Description : In India, the GST Council has come out with a four-rate structure. They are? (A) 5%, 12%, 18% and 24% (B) 5%, 12%, 18% and 26% (C) 5%, 12%, 18% and 28% (D) 5%, 12%, 16% and 28%
Last Answer : (C) 5%, 12%, 18% and 28%
Description : The highest rate of tax prescribed under IGST is– (A) 5% (B) 12% (C) 18% (D) 28%
Last Answer : (D) 28%
Description : Ayurvedic products comes under which rate structure? (A) 14% (B) 15% (C) 12% (D) 11%
Last Answer : C) 12%
Description : Under which Act GST was introduced? (A) 100 (B) 101 (C) 102 (D) 103
Last Answer : (B) 101
Description : GST comes under which amendment bill? (A) 118 (B) 120 (C) 122 (D) 115
Last Answer : (C) 122
Description : GST council formation based on Article number– (A) 279A (B) 289A (C) 266A (D) 255A
Last Answer : (A) 279A
Description : Who is the chairman of GST committee of state finance ministers? (A) Amit Mitra (B) Amit kohli (C) Amit Sastri (D) Amit Malhodra
Last Answer : (A) Amit Mitra
Description : The Central Board of Excise and Customs (CBE(C) announced that every year ................... will be considered as GST Day. (A) April 1 (B) March 1 (C) June 1 (D) July 1
Last Answer : (D) July 1
Description : Indian GST model has how many bands of tax rates? (A) 2 (B) 3 (C) 4 (D) 5
Last Answer : (C) 4
Description : GST is a ................... based tax on consumption of goods and services. (A) Origin (B) Destiny (C) Development (D) Destination
Last Answer : (D) Destination
Description : A special purpose vehicle ................... has been launched to cater the needs of GST. (A) GSTS (B) GSTR (C) GSTM (D) GSTN
Last Answer : (D) GSTN
Description : GST was introduced as the ................... amendment Act. A 100 (B) 101 (C) 102 (D) 103
Description : India has chosen ................... model of dual-GST? (A) Canadian (B) Cuba (C) Belize (D) Nicaragua
Last Answer : (A) Canadian
Description : Which of the following tax will be abolished by the GST? (A) Service Tax (B) Income Tax (C) Wealth Tax (D) Corporation tax
Last Answer : (A) Service Tax
Description : What kind of Tax is GST? (A) Direct Tax (B) Indirect Tax (C) Depends on the type of goods and services (D) None of the above
Last Answer : (B) Indirect Tax
Description : Which country has the second-highest GST rate of 27%? (A) Colombia (B) Brazil (C) Argentina (D) Chile
Last Answer : (C) Argentina
Description : How many types of GST in India? (A) 2 (B) 3 (C) 4 (D) 5
Last Answer : (B) 3
Description : In India GST came affective from July 1st, 2017, India has chosen ................... model of dual – GST. (A) USA (B) UK (C) Canadian (D) China
Last Answer : C) Canadian
Description : The country with highest GST Rate in the world is– (A) USA (B) India (C) China (D) Greece
Last Answer : (B) India
Description : Who is the chairman of GST council? (A) RBI Governor (B) Prime Minister (C) Finance secretary (D) Finance Minister
Last Answer : (D) Finance Minister
Description : Which constitutional amendment is done to pass the GST bill? (A) 101st (B) 120th (C) 122nd (d) 115th
Last Answer : (A) 101st
Description : GST will be levied on– (A) Manufacturers (B) Retailers (C) Consumers (D) All of the above
Last Answer : (D) All of the above
Description : Which of the following tax will be abolished by the GST? (A) Service Tax (B) Corporation tax (C) Income Tax (D) Wealth Tax
Description : Which article spells formation of GST Council? (A) 270 (B) 246A (2) (C) 269A (1) (D) 279A (
Last Answer : (A) 270
Description : Who is the head of the GST council? (A) Shashi Kant Das (B) Amit Mitra (C) Arun Jaitley (D) Hasmukh Adhia
Last Answer : (C) Arun Jaitley
Description : How many countries have dual – GST model? (A) 5 (B) 8 (C) 10 (D) None of these
Last Answer : (D) None of these
Description : Presently how many countries have implemented GST? (A) 102 (B) 120 (C) 140 (D) 160
Last Answer : (D) 160
Description : The headquarters of GST council is located at– (A) New Delhi (B) Lucknow (C) Ahmadabad (D) Mumbai
Last Answer : (A) New Delhi
Description : In which year GST was first introduced in India? (A) 2000 (B) 2002 (C) 2004 (D) 2006
Last Answer : (A) 2000
Description : Which state became the first state of India to ratify GST bill? (A) Bihar (B) Telangana (C) Assam (D) Andhra Pradesh
Last Answer : (C) Assam
Description : Which of the following country is the first one to implement GST? (A) USA (B) France (C) China (D) Switzerland
Last Answer : (B) France
Description : The concept of Goods and Services Tax (GST) is originated in– (A) Canada (B) USA (C) Britain (D) Germany
Last Answer : (A) Canada
Description : The marked price of a watch was Rs. 720.A man brought the same for Rs.550.80 after getting two successive discounts the first being 10% .What was the second discount rate? A. 12% B. 14% C. 15% D. 18%
Last Answer : Answer – C. 15% Explanation – Let the second discount rate be x% Then, (100 – x)% of 90% of 720 = 550.80 => (100 – x)/100 x 90/100 x 720 = 550.80 = (100-x) = [55080/(9 x 72) = 85 => x= 15 second discount rate =15%
Description : GSTN comes under which Act? (A) Banking Regulation Act 1949 (B) RBI Act 1934 (C) Indian Partnership Act, 1932 (D) Companies Act, 2013 (Ans : D) 45. Combined Stake of Central and State Government in GSTN is– (A) 20% (B) 25% (C) 49% (D) 51%
Last Answer : (C) 49%
Description : A project has the following cash inflows Rs.34,444; Rs.39,877; Rs.25,000; and Rs.52,800 for years 1 through 4, respectively. The initial cash outflow is Rs.104,000. Which of the following four statements ... than or equal to 14%, but less than 18%. D. The IRR is greater than or equal to 18%.
Last Answer : C. The IRR is greater than or equal to 14%, but less than 18%.
Description : A merchant dealer gives successive discounts of 10% and 20% in that order and makes a profit of 20%. what will be the profit if he offers a single flat discount of 30%? a) 20% b) 16.67% c) 18% d) 14% e) None of these
Last Answer : let marked price be 100. SP with 10%, 20% = 80% of (90% of 100) = 72. profit = 20% so CP = 72/1.20 = Rs. 60 by offering a flat discount of 30%, sales price = 70% of 100 = 70 profit = (70 - 60) ×100 / 60 = 16.67% Answer: b)
Description : The IGST is charged by? (A) Central Government of India (B) State Government of Andhra (C) Only 1 (D) Only 2
Last Answer : (A) Central Government of India
Description : What is Integrated Goods and Services Tax? (A) Tax on international trade (B) Tax imposed on interstate trade (C) Tax imposed on value additions to exports (D) Tax imposed on imported goods and services
Last Answer : (B) Tax imposed on interstate trade
Description : Combined Stake of Central and State Government in GSTN is– (A) 20% (B) 25% (C) 49% (D) 51%
Description : he tax IGST charged by ................... Government. (A) Central (B) State (C) Concerned department (D) Both A and B
Last Answer : (A) Central
Description : What is Integrated Goods and Services Tax? (A) Tax imposed on imported goods and services (B) Tax imposed on value additions to exports (C) Tax imposed on interstate trade (D) Tax on international trade
Last Answer : (C) Tax imposed on interstate trade
Description : What is IGST? (A) Integrated Goods and Service Tax (B) Indian Goods and Service Tax (C) Initial Goods and Service Tax (D) None of these
Last Answer : (A) Integrated Goods and Service Tax
Description : What is SGST? (A) State Goods and Service Tax (B) S Goods and Service Tax (C) South Goods and Service Tax (D) None of these
Last Answer : (A) State Goods and Service Tax
Description : What is CGST? (A) Center Goods and Service Tax (B) Capital Goods and Service Tax (C) Capacity Goods and Service Tax (D) Central Goods and Service Tax
Last Answer : (D) Central Goods and Service Tax
Description : The traditional market segment is expected a. none of these. b. to grow at 14% per year. c. to grow at a faster rate than the market. d. to make up 27.5% of the electronic sensor market in five years from now. e. to grow at a faster rate than the high end segmen
Last Answer : d. to make up 27.5% of the electronic sensor market in five years from now.
Description : According to IS 399-1963, the weight of the timber is specified at (A) 8% moisture content (B) 10% moisture content (C) 12% moisture content (D) 14% moisture content
Last Answer : Answer: Option C
Description : .Kamya purchased an item for Rs 46,000 and sold it at a loss of 12 per cent. With that amount she purchased another item which he sold at a gain of 12%. What was her overall gain/loss? 1. Loss of Rs 662.40 2. Profit of Rs 662.40 3. Loss of Rs 642.80 4. Profit of Rs 642.80
Last Answer : 2. Profit of Rs 662.40
Description : Bank of India has sold how much percent of its stake in Star Union Dai-Ichi Life insurance to Dai-Ichi? A) 18% B) 26% C) 38% D) 15% E) 12%
Last Answer : A) 18% Explanation: The shareholding of Dai-Ichi in the Indian life insurance venture will now increase from 26% to 44% while Bank of India‘s shareholding will decrease from 30% to 48%. Union Bank will continue to hold 26%.
Description : Stainless steel contains (A) 18% of chromium and 8% nickel (B) 8% of chromium and 18% of nickel (C) 12% of chromium and 36% of nickel (D) 36% of chromium and 12% of nickel
Last Answer : Answer: Option A