04 Jul

GST Questions for Government Exams

GST Questions for Government Exams:

The government has recently launched GST regime, effective from July 1, 2017. What is GST ?
Ans : Goods and Services Tax (GST)

GST is a ___________ based tax on consumption of goods and services.
Ans : destination based

India has chosen ____________ model of dual-GST ?
Ans : Canadian

The Central Board of Excise and Customs (CBEC) has recently announced that ___________ will be observed as GST Day ?
Ans : 1st July

The main objective of GST is to ______________ excessive taxation.
Ans : eliminate

In GST only three type of taxes will be charged in whole country. What are they ?

What is CGST ?
Ans : Central Goods and Service Tax

What is SGST ?
Ans : State Goods and Service Tax

What is IGST ?
Ans : Integrated Goods and Service Tax

The IGST is charged by ?
Ans : Central Government of India

__________ is doing away with indirect taxes such Central Excise Duty, Service Tax, Addl. Customs Duty, Special Addl. Customs Duty as well as Addl. Excise Duty (These indirect taxes are those that are collected by the Centre).
Ans : CGST

______________ will remove indirect taxes on goods and services which are charged by the State such as VAT, Entertainment Tax, Purchase Tax, Octroi, Luxury Tax and Entry Tax.
Ans : SGST

The Goods and Services Tax (GST) was first proposed in which year ?
Ans : 2000

In the year 2000, then Prime Minister Atal Bihari Vajpyee introduced the concept of GST and sets up a committee headed by the then West Bengal Finance Minister ______________ to design a GST model.
Ans : Asim Dasgupta

Which Article of the Constitution as amended by 101st Constitutional Amendment Act, 2016 defines the Goods and Services tax (GST) as a tax on supply of goods or services or both ?
Ans : Article 366 (12A)

Around how many countries have already implemented the GST ?
Ans : 160

Which country is the First to Implement GST ?
Ans : France

France has implemented GST in which year ?
Ans : 1954

Only ______________ has dual GST model (Just like India is going to implement Dual GST Model).
Ans : Canada

Which country has the maximum GST rate slab of 28% ? highest among more than 160 countries across the world that have implemented GST ?
Ans : India

Which country has the second-highest GST rate of 27% ?
Ans : Argentina

In India, the GST Council has come out with a four-rate structure. They are ?
Ans : 5%, 12%, 18% and 28%

Tax rate on the Luxury and demerit goods will be ____________ plus cess.
Ans : 28%

What is the Tax Rate on essential items like salt, unpacked food grains, healthcare services ?
Ans : 0%

Under GST, smartphones will be taxed at ___________ per cent.
Ans : 12%

Household items like sugar, tea, coffee (barring instant coffee) and edible oil will attract the tax rate of _______________ per cent
Ans : 5%

Common use products like hair oil, soaps and toothpaste will be charged with a GST of ___________ per cent.
Ans : 18%

Chewing gums, white chocolate, chocolates containing cocoa, wafers coated with chocolate, instant coffee, custard powder, students’ colours, paints, varnishes, perfumes, beauty products, sunscreen, shampoos, hair dyes, after-shave lotions and deodorants will attract tax rate of ________________ per cent.
Ans : 28%

Before GST, insurance was taxed at 15 per cent. Under GST, this would go up to __________ per cent.
Ans : 18%

Ayurvedic products comes under which rate structure ?
Ans : 12%

Under GST, the electricity generation will get cheaper as the GST council has brought down the current tax on coal to _____________ per cent from the previous tax rate of 11.69 per cent.
Ans : 5%

What is sin tax ?
Ans : a tax on items such as alcohol or tobacco

Transaction fee on various banking and financial services are expected to go up as GST will tax these services under _________ per cent tax rate from the current 15 per cent.
Ans : 18

A Special Purpose Vehicle called the GSTN has been set up to cater to the needs of GST. What is GSTN ?
Ans : Goods and Service Tax Network

A message is doing rounds on social media that if u make payment of utility bills by credit cards,you will be paying GST twice. Is it TRUE or FALSE ?

HSN code shall be used for classifying the goods under the GST regime. What is HSN ?
Ans : Harmonised System of Nomenclature

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