Indirect Tax 4 Sem Mba

Subject: Indirect Taxation
Code: Fin-403
1. The concept of Goods and Services Tax (GST) is originated in………..
(a) Canada
(b) USA
(c) Britain
(d) Germany
Ans. a
2. Which of the following is statement is not correct about GST?
(a) GST is like a last-point retail tax. GST is going to be collected at point of Sale.
(b) GST will abolish all the direct tax levied in India
(c) It will be implemented from 1 July, 2017 throughout the country.
(d) It will unified the tax structure in India
Ans.b
3. Which of the following tax will be abolished by the GST?
(a) Service Tax
(b) Corporation tax
(c) Income Tax
(d) Wealth Tax
Ans. a
4. Which of the following tax rate is not applicable under the GST?
(a) 5
(b) 12
(c) 18
(d) 25
Ans. D
5. GST will be levied on………………..
(a) Manufacturers
(b) Retailers
(c) Consumers
(d) All of the above
Ans. d
6. 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
Ans. B
7. Who is the head of the GST council?
(a) Shashi Kant Das
(b) Amit Mitra
(c) Arun Jaitley
(d) Hasmukh Adhia
Ans. C
8. Which constitutional amendment is done to pass the GST bill?
(a) 101st
(b) 120th
(c) 122nd
(d)115th
Ans. a
9. Which of the following good will not be covered under the GST bill?
(a) Cooking gas
(b) Liquor
(c) Petrol
Ans. d
10. Which of the following is the main motive of the government behind the
introduction of the Goods and Services Tax
(a) To bring tax uniformity in the country

(b) To increase government revenue
(c) To replace all the indirect tax
Ans. b
11. Which of the following supplies of goods or services or both would be subject
to Cess?
(a) Supplies u/s 9 of the CGST Act.
(b) Supplies u/s 5 of the IGST Act.
(c) Supplies under (a) & (b) above.
(d) None of the above.
Ans. (c) Supplies under (a) & (b) above.
12. For how many years, cess will be levied on supplies of goods or services or
both?
(a) 5 years
(b) 7 years
(c) 2 years
(d) Indefinite
Ans. (a) 5 years
Q 13. Is all type of taxable persons are liable to pay cess on supplies of goods or services
or both under the Act?
(a) Only regular taxable persons

(b) Only composition taxable persons
(c) All taxable persons
(d) None of above
Ans. (a) only regular taxable persons
Q14. Which Act need to be referred for compliances under this Act by taxable person in
relation to Returns, payments and refunds.
(a) Central Goods & Service Tax and rules made thereunder
(b) State Goods & Service Tax and rules made thereunder
(c) Integrated Goods & Service Tax and rules made thereunder
(d) None of above
Ans. (a) Central Goods & Service Tax and rules made thereunder
Q. 15 what is the projected nominal growth rate of revenue considered during transition
period under the GST Compensation Act?
(a) 10%
(b) 14%
(c) 12%
(d) 8%
Ans. (b) 14%
Q. 16 when is import of services deemed to have been initiated before commencement of

IGST Act?
(a) When invoice relating to such supply has been received or made before IGST has come
into existence
(b) Payment is made/ received either in part or full before IGST has come into existence
(c) Both of the Above
(d) Any one of the above
Ans. (d) any one of the above
Q. 17. ‘P’ Ltd. has its registered office under the Companies Act, 2013 in the State of
Maharashtra. It also has a corporate office in the State of Telangana. What will be the
place of business of ‘P’ Ltd. under the CGST Act, 2017?
(a) Telangana
(b) Maharashtra
(c) Both (a) and (b)
Ans. (c) Both (a) and (b)
Q. 18. ABC ltd. has provided following information for the month of Sep, 2018:
(i) Intra-State outward supply ` 8,00,000/-
(ii) Inter-State exempt outward supply ` 5,00,000/-
(iii) Turnover of exported goods ` 10,00,000/-
(iv) Payment made to GTA ` 80,000/-
Calculate the aggregate turnover of ABC Ltd.
(a) ` 8, 00,000/-
(b) ` 23, 80,000/-
(c) ` 23, 00,000/-

(d) ` 18, 00,000/-
Ans. (c) ` 23, 00,000/-
Q. 19. Officers under which Act shall be deemed to be the officers appointed under the
provisions of CGST Act:
(a) Central Excise Act, 1944
(b) Central Sales Tax Act, 1956
(c) Delhi Value Added Tax Act, 2004
(d) Customs Act, 1962
Ans. (a) Central Excise Act, 1944
Q. 20. ………….of the Constitution provides that no tax shall be levied or collected
except by authority of law?
(a) Article 254
(b) Article 245
(c) Article 265
(d) Article 256
Ans. (c) Article 265
Q. 21. What is the maximum rate prescribed under CGST Act?
(a) 12%
(b) 28%
(c) 20%
(d) 18%
Ans. (c) 20%
Q. 22. In case of lottery procured from State Government by a lottery distributor, GST
is payable by:
(a) Lottery distributor
(b) State Government
(c) Both the above
Ans. (a) Lottery distributor
Q. 23 what is the threshold limit of turnover in the preceding financial year for opting
to pay tax under composition scheme for special category states?
(a) ` 25 lacs
(b) ` 50 lacs
(c) ` 75 lacs
(d) ` 1 crore
Ans. (c) ` 75 lacs [Notification No. 46/2017-Central Tax dated 13.10.2017 read with
Notification No. 08/2017-Central Tax dated 27.06.2017]
Q. 24. Mr. Richard, a trader in Delhi has opted for composition scheme of taxation
under GST. Determine the rate of total GST payable by him under composition scheme:
(a) 0.5% CGST & 0.5% SGST
(b) 2.5% CGST & 2.5% UTGST
(c) 5% IGST
(d) 5% UTGST
Ans. (a) 0.5% CGST & 0.5% SGST
Q. 25 the country with highest GST Rate in the world is
a) Greece
b) China
c) USA
d) Australia
e) India
Q. 26 the highest rate of tax prescribed under IGST is
A) 5%
B) 12%
C) 18%
D) 28%
Q. 27 How Many types of GST in India?
A) 2
B) 3
C) 4
D) 5
Q. 28 the tax IGST charged by ___Government.
A) Central
b) State
c) Concerned department
d) Both a and b
e) All a, b and c
Q. 29 In India GST came effective from July 1st, 2017. From which country India has
borrowed Dual GST Model?
a) USA
b) Australia
c) Canadian
d) China
e) Japan
Q. 30 who is the Chairman of GST Council
A) RBI Governor
B) Prime Minister
C) Finance Secretary
D) President of India
E) Finance Minister
Q.31 Taxes on services can be levied by
A) Centre
B) State
C) Centre and State Both

D) None of the Above
Q. 32 which of the following is/are true regarding draft of the GST bill
proposed?
1) Online purchases will not attract GST.

2) The liability to pay GST will arise at the time of supply.
A) Only 1
B) Only 2
C) Both 1 and 2
D) Neither 1 nor 2

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Subject: Indirect Taxation

1. The concept of Goods and Services Tax (GST) is originated in………..

2. Which of the following is statement is not correct about GST?

(c) It will be implemented from 1 July, 2017 throughout the country.

(d) It will unified the tax structure in India

3. Which of the following tax will be abolished by the GST?

(a) Service Tax

(b) Corporation tax

(c) Income Tax

(d) Wealth Tax

5. GST will be levied on………………..

(d) All of the above

6. 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

(a) Shashi Kant Das

(b) Amit Mitra

(c) Arun Jaitley

(d) Hasmukh Adhia

8. Which constitutional amendment is done to pass the GST bill?

(a) Cooking gas

(d) All of the above

(a) To bring tax uniformity in the country

(c) To replace all the indirect tax

(d) All of the above

(a) Supplies u/s 9 of the CGST Act.

(b) Supplies u/s 5 of the IGST Act.

(c) Supplies under (a) & (b) above.

(d) None of the above.

Ans. (c) Supplies under (a) & (b) above.

Ans. (a) 5 years

(a) Only regular taxable persons

(c) All taxable persons

(d) None of above

Ans. (a) only regular taxable persons

(d) None of above

Ans. (b) 14%

Q. 16 when is import of services deemed to have been initiated before commencement of

(c) Both of the Above

(d) Any one of the above

Ans. (d) any one of the above

(c) Both (a) and (b)

(d) None of the above

Ans. (c) Both (a) and (b)

(i) Intra-State outward supply ` 8,00,000/-

(ii) Inter-State exempt outward supply ` 5,00,000/-

(iii) Turnover of exported goods ` 10,00,000/-

(iv) Payment made to GTA ` 80,000/-

Calculate the aggregate turnover of ABC Ltd.

(b) ` 23, 80,000/-

(c) ` 23, 00,000/-

Ans. (c) ` 23, 00,000/-

(a) Central Excise Act, 1944

(b) Central Sales Tax Act, 1956

(c) Delhi Value Added Tax Act, 2004

(d) Customs Act, 1962