White Belt - Assignment III

Which of the following taxes is levied on goods and services in India?

• a) Income Tax

• b) GST

• c) Corporate Tax

• d) Wealth Tax

What is the threshold limit for GST registration in Gujrat for a manufacturing or trading business?

• a) 10 Lakhs

• b) 20 Lakhs

• c) 40 Lakhs

• d) 50 Lakhs

Which of the following is true about Integrated GST (IGST)?

• a) It is collected by the state government for intrastate sales

• b) It is collected when goods are sold within the same state

• 1. 
     c) It is collected by the Central government for interstate sales

• d) It is only applicable to manufacturing businesses

Which of the following is true about the Central GST (CGST) and State GST (SGST) for intrastate sales?

• a) They are collected equally by the state and the central government

• b) They are collected only by the central government

• c) They are collected only by the state government

• d) They are not applicable to all businesses

What is the threshold limit for GST registration for service businesses in regular states?

• a) 10 Lakhs

• b) 20 Lakhs

• c) 40 Lakhs

• d) 50 Lakhs

When is the e-Way Bill system required for interstate transportation of goods?

• a) When the goods being transported are worth more than ₹10,000

• b) When the goods are being transported within the same state

• c) When the goods being transported are worth more than ₹50,000

• d) Only for goods being exported

What is the role of HSN codes in GST?

• a) To determine the location of goods

• b) To categorize businesses

• c) To decide the tax amount

• d) To determine GST rates for items

If Ajit’s business sells goods worth ₹1,00,000 within Kerala and charges an 18% GST, how much CGST and SGST will be collected?

• a) ₹18,000 CGST, ₹18,000 SGST

• b) ₹9,000 CGST, ₹9,000 SGST

• c) ₹18,000 CGST, ₹9,000 SGST

• d) ₹9,000 CGST, ₹18,000 SGST

If Ajit sells goods worth ₹1,00,000 from Kerala to Tamil Nadu, and charges an 18% GST, how much IGST will be charged?

• a) ₹18,000

• b) ₹8,000

• c) ₹36,000

• d) ₹1,800

Ajit’s business has collected ₹1,00,000 GST from sales and paid ₹75,000 GST on purchases. How much GST will Ajit need to pay to the department?

• a)10000

• b)20000

• c)25000

• d)2500