Topicwise Banking Awareness Quiz – Set 6 – Goods and Services Tax(GST) – Part 2

Hello and welcome to exampundit. Here is a set of Topicwise Banking Awareness Quiz on Goods and Services Tax(GST). This is the Part 2.

Goods and Services Tax (GST)

 

 

  1. HSN is a ___________ code for identifying the applicable rate of GST on different products as per CGST rules.

1) 2 Digit

2) 4 Digit

3) 6 Digit

4) 8 Digit

5) 5 Digit

Answer

Option: 4

 

 

  1. How much share does Indian Government hold in “Goods and Services Tax” Network (GSTN)?

1) 51%

2) 49%

3) 25%

4) 100%

5) 75%

Answer

Option: 2

 

 

  1. How many digits are there in Goods and Service Tax Identification Number (GSTIN)?

1) 12

2) 14

3) 15

4) 10

5) 8

Answer

Option: 3

 

 

  1. The first two digit of Goods and Service Tax Identification Number (GSTIN) represents ____________.

1) Unique GST Code

2) Industry/Sector Code

3) State Code

4) First two letters of the company

5) Unique Check Code

Answer

Option: 3

 

 

  1. Which of the following statement(s) is/are true about Goods and Service Tax Identification Number (GSTIN)?

i) From third to twelfth digit will be the PAN number of the taxpayer.

ii) The fourteenth digit will be Z by default.

iii) The thirteenth digit will be assigned based on the number of registration within a state.

1) Only I

2) Only II

3) Only III

4) Both I and III

5) All of them are true

Answer

Option: 5

 

 

  1. In Goods and Services Tax, what does Q stands for in UQC?

1) Quality

2) Quantity

3) Quantum

4) Quoted

5) Quick

Answer

Option: 2 – Unique Quantity Code

 

 

  1. Which of the following article has been repealed so now service tax is subsumed in GST?

1) Article 248A

2) Article 249A

3) Article 268A

4) Article 272A

5) Article 255A

Answer

Option: 3

 

 

  1. Who holds the maximum share in Goods and Services Network?

1) Government of India

2) Reserve Bank of India

3) Private Companies

4) State Governments

5) Both 1 and 4

Answer

Option: 3 – 51% in total

 

 

  1. Which of the following country was the first to introduce Goods and Services Tax?

1) Germany

2) Italy

3) Canada

4) Australia

5) France

Answer

Option: 5

 

 

  1. Apart from India, which of the following nation has a Dual GST (Centre and State)?

1) Australia

2) Singapore

3) Germany

4) Canada

5) Spain

Answer

Option: 4

 

 

  1. The first ever committee to design a GST Model was set up by former Prime Minister Atal Bihari Vajpayee. Who was the chairperson of that committee?

1) Asim Dasgupta

2) Bimal Jalan

3) P V Narshimha Rao

4) Vijay Kelkar

5) Manmohan Singh

 

Answer

Option: 1

 

  1. Who is the chairman of GST Council?

1) Narendra Modi

2) Arun Jaitley

3) Vivek Debroy

4) Amitabh Kant

5) Urjit Patel

Answer

Option: 2

 

Click here for SET 1

Click Here for Set 3

 

Regards

Team EP