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MCQs

Total Questions : 60 | Page 6 of 6 pages
Question 51. This Act shall not apply to any establishment registered under the Co-operative Societies Act, 1912 (2 of 1912), employing less than ------- persons and working without the aid of power
  1.    100
  2.    70
  3.    50
  4.    20
 Discuss Question
Answer: Option C. -> 50


Question 52. No court inferior to that of ......................class shall try any offence under this Act
  1.    Sureme Court
  2.    Presidency Magistrate or a Magistrate of the first class
  3.    Musiff Court
  4.    High Court
 Discuss Question
Answer: Option B. -> Presidency Magistrate or a Magistrate of the first class


Question 53. Under this act, “Insurance Fund” means ……………
  1.    Employees’ Group Accident Insurance
  2.    Unit Linked Insurance Plan
  3.    Deposit Linked Insurance Scheme
  4.    Medical Insurance Fund
 Discuss Question
Answer: Option C. -> Deposit Linked Insurance Scheme


Question 54. The Central Government has amended the ceiling for contributions under the Employees' Provident Fund and Miscellaneous Provisions Act, 1952 (EPF Act) and the Employees' Provident Fund and Miscellaneous Provisions Scheme, 1952 (EPF Scheme) from __________ to __________, with effect from 1 September 2014.
  1.    Rs. 5000/- to Rs.12000/-
  2.    Rs. 6500/- to Rs.15000/-
  3.    Rs. 6500/- to Rs.13000/-
  4.    Rs. 7500/- to Rs. 15000/-
 Discuss Question
Answer: Option B. -> Rs. 6500/- to Rs.15000/-


Question 55. GST was introduced in India with effect from
  1.    1.1.2017
  2.    1.4.2017
  3.    1.1.2018
  4.    1.7.2017
 Discuss Question
Answer: Option D. -> 1.7.2017


Question 56. GST was introduced in Jammu and Kashmir with effect from
  1.    1.8.2017
  2.    1.7.2017
  3.    1.1.2018
  4.    8.7.2017
 Discuss Question
Answer: Option D. -> 8.7.2017


Question 57. Constitution Amendment Act, 2016 for GST was
  1.    80th
  2.    101st
  3.    122nd
  4.    None of these
 Discuss Question
Answer: Option B. -> 101st


Question 58. As a result of constitution amendment for GST a Separate List --- has been inserted in the constitution.
  1.    Article 246A
  2.    Article 146B
  3.    Article 122 C
  4.    Article 101B
 Discuss Question
Answer: Option A. -> Article 246A


Question 59. The incidence of tax on tax is called
  1.    Tax Cascading
  2.    Tax Pyramidding
  3.    Tax evasion
  4.    Indiret tax
 Discuss Question
Answer: Option A. -> Tax Cascading


Question 60. Under GST, ‘value addition’ refers to
  1.    Expenses ‘plus’ profit
  2.    Cost plus tax
  3.    Cost plus tax plus‘profit
  4.    Tax plus profit
 Discuss Question
Answer: Option A. -> Expenses ‘plus’ profit


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