Hello and welcome to exampundit. Here is a set of Topicwise Banking Awareness Quiz on Goods and Services Tax(GST). This is the Part 1. More sets will be shared. Goods and Services Tax (GST)  
  1. Which of the following Centre Indirect Tax(s) is/are subsumed in GST?
1) Central Excise Duty 2) Service Tax 3) Special Additional Duty of Customs 4) Both 1 and 2 5) All 1, 2 and 3 [su_spoiler title="Answer" style="fancy" icon="arrow-circle-1"] Option: 5 [/su_spoiler]    
  1. Which of the following article in Indian Constitution denotes that in case of the inter-state trade, the tax will be levied and collected by the Government of India and shared between the Union and States as per recommendation of the GST Council?
1) Article 246-A 2) Article 269-A 3) Article 279-A 4) Article 249-A 5) Article 266-A [su_spoiler title="Answer" style="fancy" icon="arrow-circle-1"] Option: 2 [/su_spoiler]    
  1. Which of the following article in Indian Constitution provides for constitution of a GST councilby president within sixty days from this act coming into force?
1) Article 246-A 2) Article 269-A 3) Article 279-A 4) Article 249-A 5) Article 266-A [su_spoiler title="Answer" style="fancy" icon="arrow-circle-1"] Option: 3 [/su_spoiler]    
  1. What does S stands for in HSN code of GST?
1) Systematic 2) Service 3) Surplus 4) System 5) Special [su_spoiler title="Answer" style="fancy" icon="arrow-circle-1"] Option: 4 [/su_spoiler]    
  1. The Goods and Services Tax act is known as _________________.
1) Constitution (One Hundred and First Amendment) Act, 2016 2) Constitution (One Hundred and Fifteen Amendment) Act, 2016 3) Constitution (One Hundred and Twenty Second Amendment) Act, 2016 4) Constitution (One Hundred and Second Amendment) Act, 2016 5) Constitution (One Hundred and Eleventh Amendment) Act, 2016 [su_spoiler title="Answer" style="fancy" icon="arrow-circle-1"] Option: 1 [/su_spoiler]    
  1. As per 23rd GST Council meeting on 10th November 2017, GST Rate for manufacturers and traders under composition scheme is __________.
1) 0% 2) 1% 3) 5% 4) 12% 5) 18% [su_spoiler title="Answer" style="fancy" icon="arrow-circle-1"] Option: 2 [/su_spoiler]    
  1. After the 23rd GST Council meeting on 10th November 2017, how many items’ rates have been reduced from 28% to 18%?
1) 178 2) 179 3) 182 4) 184 5) 176 [su_spoiler title="Answer" style="fancy" icon="arrow-circle-1"] Option: 1 [/su_spoiler]    
  1. As of December 25, 2017, For Restaurants within hotels, and room tariff less than ____________ the GST rate is 5%. 
1) ₹10,000 2) ₹5,000 3) ₹7,500 4) ₹6,500 5) ₹8,000 [su_spoiler title="Answer" style="fancy" icon="arrow-circle-1"] Option: 3 [/su_spoiler]    
  1. Which of the following article of Indian Constitution has been amended so that parliament will have powers to make laws related to GST during emergency period?
1) Article 240 2) Article 251 3) Article 268 4) Article 250 5) Article 300 [su_spoiler title="Answer" style="fancy" icon="arrow-circle-1"] Option: 4 [/su_spoiler]    
  1. A Company won’t have to mention HSN code while supplying goods on invoices if their turnover in preceding financial year is up to __________.
1) ₹1.5 crore 2) ₹2 crore 3) ₹2.5 crore 4) ₹1 crore 5) ₹5 crore [su_spoiler title="Answer" style="fancy" icon="arrow-circle-1"] Option: 1 [/su_spoiler]    
  1. What is the authorized capital of "Goods and Services Tax" Network (GSTN)?
1) ₹100 crore 2) ₹50 crore 3) ₹200 crore 4) ₹25 crore 5) ₹10 crore [su_spoiler title="Answer" style="fancy" icon="arrow-circle-1"] Option: 5 [/su_spoiler]    
  1. Which of the following private bank(s) holds 10% share in "Goods and Services Tax" Network (GSTN)?
1) HDFC Bank 2) ICICI Bank 3) State Bank of India 4) Both 1 and 2 5) All 1, 2 and 3 [su_spoiler title="Answer" style="fancy" icon="arrow-circle-1"] Option: 4 [/su_spoiler]   Click here for SET 2     Regards Team EP