GST Past Questions and Answers

GST Past Questions and Answers

Here are 20 GST (Goods and Services Tax) related questions with options and answers:

What does GST stand for?

a) Goods and Sales Tax

b) Goods and Services Tax

c) General Sales Tax

d) Global Service Tax

Answer: b) Goods and Services Tax

What is the current GST rate for essential food items in India?

a) 5%

b) 12%

c) 18%

d) 28%

Answer: a) 5%

Which government body in India is responsible for administering GST?

a) RBI (Reserve Bank of India)

b) SEBI (Securities and Exchange Board of India)

c) CBIC (Central Board of Indirect Taxes and Customs)

d) NITI Aayog

Answer: c) CBIC (Central Board of Indirect Taxes and Customs)

Which type of GST is levied on the supply of goods and services within a state in India?

a) SGST (State Goods and Services Tax)

b) CGST (Central Goods and Services Tax)

c) IGST (Integrated Goods and Services Tax)

d) UTGST (Union Territory Goods and Services Tax)

Answer: a) SGST (State Goods and Services Tax)

What is the threshold limit for GST registration for businesses in India?

a) Rs. 10 lakh turnover

b) Rs. 20 lakh turnover

c) Rs. 50 lakh turnover

d) Rs. 1 crore turnover

Answer: b) Rs. 20 lakh turnover

Which of the following is not a type of GST return in India?

a) GSTR-1

b) GSTR-2

c) GSTR-4

d) GSTR-8

Answer: b) GSTR-2

Under GST, what is the place of supply used to determine the applicable tax rate?

a) Location of the supplier

b) Location of the recipient

c) Location of the nearest GST office

d) Location of the delivery address

Answer: b) Location of the recipient

What is the GST rate for gold jewelry in India?

a) 5%

b) 12%

c) 18%

d) 3%

Answer: c) 18%

Who is eligible for a GST composition scheme in India?

a) Small businesses with a turnover less than Rs. 20 lakh

b) Large corporations with a turnover greater than Rs. 1 crore

c) Restaurants and eateries

d) Exporters

Answer: a) Small businesses with a turnover less than Rs. 20 lakh

What is the reverse charge mechanism under GST?

a) A mechanism where the supplier pays the tax

b) A mechanism where the recipient pays the tax

c) A mechanism used only for imported goods

d) A mechanism used for international transactions

Answer: b) A mechanism where the recipient pays the tax

Which tax reform paved the way for the implementation of GST in India?

a) Value Added Tax (VAT)

b) Sales Tax

c) Service Tax

d) Central Excise Duty

Answer: c) Service Tax

What is the GST rate on healthcare services in India?

a) 5%

b) 12%

c) 18%

d) 28%

Answer: a) 5%

In which year was GST implemented in India?

a) 2014

b) 2016

c) 2017

d) 2018

Answer: c) 2017

What is the GST rate on luxury cars in India?

a) 5%

b) 12%

c) 18%

d) 28%

Answer: d) 28%

Which of the following is not a category of GST rate?

a) Nil rate

b) Zero rate

c) Exempt rate

d) Reverse rate

Answer: d) Reverse rate

Who is responsible for collecting and remitting IGST in India?

a) State government

b) Central government

c) Union Territory government

d) The recipient of goods and services

Answer: b) Central government

Which industry is exempt from GST in India?

a) Telecom

b) Agriculture

c) Textiles

d) IT services

Answer: b) Agriculture

What is the full form of GSP in the context of GST?

a) Goods and Service Provider

b) Goods and Services Portal

c) Goods and Services Provider

d) Goods and Service Portal

Answer: b) Goods and Services Portal

What is the maximum GST rate applicable in India for most goods and services?

a) 5%

b) 12%

c) 18%

d) 28%

Answer: c) 18%

Which organization is responsible for recommending changes in GST rates in India?

a) GST Council

b) RBI (Reserve Bank of India)

c) Finance Ministry

d) SEBI (Securities and Exchange Board of India)

Answer: a) GST Council.