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MCQs

Total Questions : 274 | Page 22 of 28 pages
Question 211. Balance in electronic credit ledger under IGST can be used against which liability?
  1.    IGST Liability only
  2.    IGST and CGST liability
  3.    IGST, CGST and SGST liability
  4.    None of them
 Discuss Question
Answer: Option C. -> IGST, CGST and SGST liability
Question 212. What is the rate of TDS?
  1.    1%
  2.    4%
  3.    5%
  4.    18%
 Discuss Question
Answer: Option A. -> 1%
Question 213. What is the due date for payment of tax?
  1.    Last day of the month to which payment relates
  2.    Within 10 days of the subsequent month
  3.    Within 20 days of the subsequent month
  4.    Within 15 days of the subsequent month
 Discuss Question
Answer: Option C. -> Within 20 days of the subsequent month
Question 214. Balance in electronic credit ledger under SGST can be used against which liability?
  1.    SGST Liability only
  2.    SGST and IGST liability
  3.    SGST, IGST and CGST liability
  4.    None of them
 Discuss Question
Answer: Option B. -> SGST and IGST liability
Question 215. Which of the following country is the first one to implement GST?
  1.    USA
  2.    France
  3.    China
  4.    Switzerland
  5.    Germany
 Discuss Question
Answer: Option B. -> France
France implemented GST in 1954.
Question 216. The maximum rate prescribed under IGST now is _______.
  1.    5%
  2.    12%
  3.    18%
  4.    28%
  5.    No such limit
 Discuss Question
Answer: Option D. -> 28%
Question 217. Which of the following country has the maximum GST tax slab?
  1.    Greece
  2.    China
  3.    USA
  4.    Australia
  5.    India
 Discuss Question
Answer: Option E. -> India
India has the maximum tax slab (28%) compared to other countries.
Question 218. Which of the following country has the second highest tax slab?
  1.    Australia
  2.    Netherland
  3.    Argentina
  4.    Ireland
  5.    South Korea
 Discuss Question
Answer: Option C. -> Argentina
Argentina has the second highest tax slab 27%
Question 219. The tax IGST charged by _________Government.
  1.    Central
  2.    State
  3.    Concerned department
  4.    Both a and b
  5.    All a, b and c
 Discuss Question
Answer: Option A. -> Central
Question 220. GST comes under which amendment bill?
  1.    118
  2.    120
  3.    122
  4.    115
  5.    129
 Discuss Question
Answer: Option C. -> 122

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