Concept of Indirect Taxes at a Glance

..................... was the first State in India to pass the State GST Bill.

(A)Telangana

(B)Maharashtra

(C)Assam

(D)West Bengal

As per Article 279A who is empowered to constitute GST council :

(A)Prime Minister

(B)President

(C)Central Government

(D)Parliament

Which country is the first to introduce goods and services tax?

(A)France

(B)USA

(C)UK

(D)Brazil

Which out of the following options is not the correct answer relating to GST Council:

(A)The GST Council meets from time to time to revise the GST rates for various products

(B)The GST Council is chaired by the Union Finance Minister

(C)Quorum of GST Council should be 3/4th of the total members

(D)GST Council decides the Goods & Services which are exempt from GST

GST on Petroleum Crude, High Diesel, Motor Spirit (commonly known as Petrol), Natural Gas and Aviation Turbine Fuel:

(A)is levied, but exempt

(B)is not levied at all

(C)will be levied from a date to be notified on the recommendations of the GST Council

(D)will be levied from 1st April, 2022

The Projected nominal growth rate of revenue subsumed for a state during the transaction period shall be ........................ p.a.

(A)14%

(B)12

(C)10%

(D)16%

The First Country to implement Goods & Services Tax was ............... in early as ........ .

(A)France; 1954

(B)France; 1955

(C)Argentina; 1954

(D)Argentina; 1955

Which out of following state passed first State GST bill in India :

(A)Maharashtra

(B)Gujarat

(C)Telangana

(D)Tamil Nadu

Where government is satisfied that it is necessary in the public interest to do so, it may, on the recommendation of the GST council, by special order in each case, under circumstances of an exceptional nature to be stated in such order, exempt from payment of tax any goods or services or both on which tax is leviable. Now what is the time limit for explanation by the government after exemptions are granted in the public interest?

(A)Within one year of issue by the Government

(B)Within two years of issue by the Government

(C)Within three years of issue by the Government

(D)Within four years of issue by the Government

IGST Act, 2017 was passed by Parliament on the basis of ........................

(A)Article 269

(B)Article 268

(C)Article 268A

(D)Article 269A

………………of the total number of members of the GST council shall constitute the quorum at its meetings.

(A)1/3rd

(B)1/4th

(C)2/3rd

(D)1/2

In the GST Council, a decision will be taken by a ________ majority with the Centre having a ________ vote and the States remaining _______vote.

(A)3/4, 1/3, 2/3

(B)3/4, 2/3, 1/3

(C)1/3, 2/3, 3/4

(D)2/3, 3/4, 1/3

Under Section 2(6) of the UTGST Act, 2017, ‘‘Government’’ means the Administrator or any authority or officer authorized to act as Administrator by the _________ .

(A)State Government

(B)Central Government

(C)GST Council

(D)State Government and Central Government both

Who can be the chairperson for the Goods and Service Tax Council ?

(A)Prime Minister

(B)President of India

(C)Union Finance Minister

(D)Any Minister nominated by any State Government as Minister of GST Council

Integrated Goods & Service Tax (IGST) Act, 2017 was passed by the Parliament under ____________ of the Constitution and it provides that goods and services tax on __________ in the course of interstate trade or commerce shall be received and collected by the Government of India.

(A)Article 246; turnover

(B)Article 268; supplies

(C)Article 269; sales

(D)Article 269A; supplies

The Constitution (One Hundred and First Amendment) Act, 2016 provides that the GST Council, in its discharge of various functions shall be guided by the need for a -------------- structure of GST and that every decision of the GST Council shall be taken at meeting by a majority of not less than ----------- of the weighted votes of the member present and voting.

(A)harmonized; 3/4th

(B)synchronized; 3/4th

(C)simplified; 2/3rd

(D)harmonized; 2/3rd

The Constitution (One Hundred and First Amendment) Act, 2016 provides for compensation to the states for loss of revenue arising on account of implementation of the Goods and Services Tax for a period of --------------.

(A)3 Years

(B)5 Years

(C)7 Years

(D)10 Years

The mechanism of GST Council is to ensure ................ on different aspects of GST between the Centre and the States as well as amongst the States. The Chairperson of the GST Council is ................

(A)uniformity; Prime Minister

(B)harmonization; Union Finance Minister

(C)synchronization; Union Finance Minister

(D)equalization; Union Minister of State of Revenue

GST Council is the ___________constituted under ________ for making recommendations on various issues relating to policy making, formulation of principles and implementation of policies under Goods and Services Tax regime having its Headquarters located at ______

(A)Apex Body; Article 279-A; Delhi

(B)Board ; Article 279A(i); NCR

(C)Committee of Ministers; Article 279-A; NOIDA

(D)Apex Body; Article 286; Chennai

Which Article was inserted in the Indian Constitution for levy of tax on goods and services by Centre and State/Union territories ?

(A)Article 246A

(B)Article 286

(C)Article 366

(D)Article 368

Who is the chairman of GST Council ?

(A)President

(B)Union Finance Minister

(C)Prime Minister

(D)Vice-President

GST laws are implemented on the recommendations of :

(A)GST council

(B)Central Government

(C)President of India

(D)GST Network (GSTN)

Decision of the GST Council will be adopted when it has the support of :

(A)One-third majority

(B)Two-third majority

(C)Three-fourth majority

(D)Simple majority

Find out from the following, who will be the member in GST Council on behalf of each of the State :

(A)Chief Minister of the State

(B)Home Minister of the State

(C)The Minister in charge of Finance or Taxation or any other Minister nominated by the State Government

(D)Chief Secretary of the State

GST Council is being constituted for making recommendation on various issues relating to policy making, formulation of principle and implementation of policies relating to CGST Act, 2017. It is thus ...........

(A)An administrative body

(B)A Central level body

(C)A Committee of Finance Ministers

(D)An Apex Body

The GST Council for ensuring single interface has distributed the administrative control of tax payers of certain percentage with Central Tax Administration :

(A)5% of tax payers having turnover below ₹ 1 crore

(B)10% of tax payers having turnover below ₹ 1.5 crores

(C)10% of tax payers having turnover below ₹ 1 crore

(D)20% of tax payers having turnover below ₹ 1.5 crores

Which of the following is not a source of indirect taxes in India ?

(A)Custom duty

(B)Goods and Service Tax

(C)Corporation Tax

(D)All of the above

State and find from the following which hierarchy of Administrative Mechanism is being in operation at the central level for GST :

(A)Ministry of Finance (cid:63) Revenue Department (cid:63) CBIT (cid:63) Regions (cid:63) Zones Commissionerates
(cid:63) Division

(B)Ministry of Finance (cid:63) Revenue Department (cid:63) CBIT (cid:63) Zones (cid:63) Regions Commissionerates (cid:63) Division

(C)Ministry of Finance (cid:63) Revenue Department (cid:63) CBIT (cid:63) Division (cid:63) Regions Zones (cid:63) Commissionerates

(D)Revenue Department
(cid:63) Ministry of Finance (cid:63) CBIT (cid:63) Zones
(cid:63) Regions (cid:63) Commissionerates
(cid:63) Division

Administration and procedural aspects of Goods and Service Tax are to be administered by the .................... which is under the control of the Department of Revenue, Ministry of Finance, Government of India.

(A)Central Board of Indirect Taxes and Customs

(B)Central Board of Indirect Taxes

(C)Central Board of Direct Taxes

(D)GST Council

Various taxes levied under different Acts were sub-summed under CGST Act, 2017 on the objective of one nation one tax. However, certain items still continue to be taxed both under the Central Excise law & GST law even after implementation of CGST Act, 2017. Find such items out of the following :

(A)Motor Spirit and Natural Gas

(B)Alcoholic liquor for human consumption

(C)Tobacco & Tobacco products

(D)All of the above

President of India gave assent to (i) Central Goods and Service Tax Act, 2017

(ii)Integrated Goods and Service Tax Act, 2017 (iii) Union Territory Goods and

Service Tax Act, 2017 and (iv) Goods and Service Tax (Compensation to State) Act, 2017 on :

(A)13 th May, 2017

(B)13th April, 2017

(C)16th April, 2017

(D)6th June, 2017