..................... was the first State in India to pass the State GST Bill.
(A)Telangana
(B)Maharashtra
(C)Assam
(D)West Bengal
Answer: (A) Telangana
Source: ICSI Guideline Answers (answer key), December 2023, Q. 52 (Syllabus 2017).
..................... was the first State in India to pass the State GST Bill.
(A)Telangana
(B)Maharashtra
(C)Assam
(D)West Bengal
Answer: (A) Telangana
Source: ICSI Guideline Answers (answer key), December 2023, Q. 52 (Syllabus 2017).
As per Article 279A who is empowered to constitute GST council :
(A)Prime Minister
(B)President
(C)Central Government
(D)Parliament
Answer: (B) President
Source: ICSI Guideline Answers (answer key), December 2023, Q. 72 (Syllabus 2017).
Which country is the first to introduce goods and services tax?
(A)France
(B)USA
(C)UK
(D)Brazil
Answer: (A) France
Source: ICSI Guideline Answers (answer key), June 2023, Q. 93 (Syllabus 2017).
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
Answer: (C) Quorum of GST Council should be 3/4th of the total members
Source: ICSI Guideline Answers (answer key), December 2022, Q. 51 (Syllabus 2017).
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
Answer: (C) will be levied from a date to be notified on the recommendations of the GST Council
Source: ICSI Guideline Answers (answer key), December 2022, Q. 52 (Syllabus 2017).
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%
Answer: (A) 14%
Source: ICSI Guideline Answers (answer key), December 2022, Q. 95 (Syllabus 2017).
The First Country to implement Goods & Services Tax was ............... in early as ........ .
(A)France; 1954
(B)France; 1955
(C)Argentina; 1954
(D)Argentina; 1955
Answer: (A) France; 1954
Source: ICSI Guideline Answers (answer key), June 2022, Q. 60 (Syllabus 2017).
Which out of following state passed first State GST bill in India :
(A)Maharashtra
(B)Gujarat
(C)Telangana
(D)Tamil Nadu
Answer: (C) Telangana
Source: ICSI Guideline Answers (answer key), June 2022, Q. 77 (Syllabus 2017).
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
Answer: (A) Within one year of issue by the Government
Source: ICSI Guideline Answers (answer key), December 2021, Q. 79 (Old syllabus).
IGST Act, 2017 was passed by Parliament on the basis of ........................
(A)Article 269
(B)Article 268
(C)Article 268A
(D)Article 269A
Answer: (D) Article 269A
Source: ICSI Guideline Answers (answer key), December 2021, Q. 96 (Old syllabus).
………………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
Answer: (D) 1/2
Source: ICSI Guideline Answers (answer key), December 2021, Q. 99 (Old syllabus).
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
Answer: (A) 3/4, 1/3, 2/3
Source: ICSI Guideline Answers (answer key), June 2021, Q. 71 (Old syllabus).
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
Answer: (B) Central Government
Source: ICSI Guideline Answers (answer key), June 2021, Q. 74 (Old syllabus).
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
Answer: (C) Union Finance Minister
Source: ICSI Guideline Answers (answer key), June 2021, Q. 51 (Syllabus 2017).
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
Answer: (D) Article 269A; supplies
Source: ICSI Guideline Answers (answer key), December 2020, Q. 71 (Old syllabus).
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
Answer: (A) harmonized; 3/4th
Source: ICSI Guideline Answers (answer key), December 2020, Q. 74 (Old syllabus).
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
Answer: (B) 5 Years
Source: ICSI Guideline Answers (answer key), December 2020, Q. 75 (Old syllabus).
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
Answer: (B) harmonization; Union Finance Minister
Source: ICSI Guideline Answers (answer key), December 2020, Q. 51 (Syllabus 2017).
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
Answer: (A) Apex Body; Article 279-A; Delhi
Source: ICSI Guideline Answers (answer key), December 2020, Q. 53 (Syllabus 2017).
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
Answer: (A) Article 246A
Source: ICSI Guideline Answers (answer key), December 2019, Q. 72 (Old syllabus).
Who is the chairman of GST Council ?
(A)President
(B)Union Finance Minister
(C)Prime Minister
(D)Vice-President
Answer: (B) Union Finance Minister
Source: ICSI Guideline Answers (answer key), December 2019, Q. 73 (Old syllabus).
GST laws are implemented on the recommendations of :
(A)GST council
(B)Central Government
(C)President of India
(D)GST Network (GSTN)
Answer: (A) GST council
Source: ICSI Guideline Answers (answer key), December 2019, Q. 76 (Old syllabus).
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
Answer: (C) Three-fourth majority
Source: ICSI Guideline Answers (answer key), June 2019, Q. 71 (Old syllabus).
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
Answer: (C) The Minister in charge of Finance or Taxation or any other Minister nominated by the State Government
Source: ICSI Guideline Answers (answer key), December 2018, Q. 71 (Old syllabus).
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
Answer: (D) An Apex Body
Source: ICSI Guideline Answers (answer key), December 2018, Q. 73 (Old syllabus).
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
Answer: (B) 10% of tax payers having turnover below ₹ 1.5 crores
Source: ICSI Guideline Answers (answer key), December 2018, Q. 88 (Old syllabus).
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
Answer: (C) Corporation Tax
Source: ICSI Guideline Answers (answer key), June 2024, Q. 61 (Syllabus 2017).
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
Answer: (A) Ministry of Finance (cid:63) Revenue Department (cid:63) CBIT (cid:63) Regions (cid:63) Zones Commissionerates (cid:63) Division
Source: ICSI Guideline Answers (answer key), December 2020, Q. 73 (Old syllabus).
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
Answer: (A) Central Board of Indirect Taxes and Customs
Source: ICSI Guideline Answers (answer key), December 2019, Q. 53 (Syllabus 2017).
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
Answer: (C) Tobacco & Tobacco products
Source: ICSI Guideline Answers (answer key), December 2021, Q. 56 (Syllabus 2017).
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
ICSI did not treat any of the given options as correct.
ICSI's note: None of the option is correct. Actual date on which the President of India gave assent to CGST Act, 2017, IGST Act, 2017, UTGST Act, 2017, GST (Compensation to States) Act, 2017 is 12th April, 2017.
Source: ICSI Guideline Answers (answer key), June 2019, Q. 99 (Old syllabus).