Goods and service tax
Quiz
•
Arts
•
University
•
Hard
Colinjanet YIASCM
FREE Resource
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
1.What is the main purpose of implementing Goods and Services Tax (GST) in India?
A) To increase the tax burden on businesses
B) To simplify the tax structure and eliminate the cascading effect of taxes
C) To replace direct taxes with indirect taxes
D) To increase the government's control over the economy
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2.Which of the following taxes is subsumed under GST in India?
A) Income Tax
B) Wealth Tax
C) Service Tax
D) Property Tax
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
3.Which of the following is not a component of GST in India?
A) Central Goods and Services Tax (CGST)
B) State Goods and Services Tax (SGST)
C) Integrated Goods and Services Tax (IGST)
D) Local Goods and Services Tax (LGST)
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which body is responsible for administering and governing GST in India?
A) Reserve Bank of India (RBI)
B) Securities and Exchange
Board of India (SEBI)
C) Goods and Services Tax Council (GST Council)
D) Ministry of Corporate Affairs (MCA)
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under the GST regime, what is the tax levied on the interstate supply of goods and services?
A) Central Goods and Services Tax (CGST)
B) State Goods and Services Tax (SGST)
C) Integrated Goods and Services Tax (IGST)
D) Local Goods and Services Tax (LGST)
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