1. What is the full form of GST?

(A)Goods & Service Tax (B)Goods & Services Tax

(C)Goods & Service Tax (D)Goods & Sales Tax
2. GTA stands for _____________

(A)Gross Total Asset (B)Goods Tax Agency

(C)Goods Trade Agency (D)Goods Transport Agency
3. What is the full form of RTGS?

(A)Real Time Gross Settlement (B)Real Time General Statement

(C)Real Tax Generally Submitted (D)Return Turnover General System
4. The taxable event is GST is ?

(A)Sales (B)Transfer
(C)Manufacturing (D)Supply
5. What is composite supply?

(A)Naturally Bundled (B)Naturally Bound

(C)Natural Bond (D)Natural Bind
6. Which tax is applicable for goods sold within the state?

(A)IGST (B)CGST
(C)B & C (D)SGST

7. What are the various types of GST?

(A)CGST (B)IGST
(C)SGST (D)ALL

8. What is mixed supply?

(A)Combo Pack at Theatre (B)Carry Bag with Laptop

(C)Free Tooth Brush with Tooth Paste (D)All of them
9. The due date for GSTR 3B filing is _____________

(A)17 (B)18
(C)19 (D)20

10. _____________ is Zero rated under GST.

(A)B & C (B)Export

(C)Deemed Export (D)None
11. What is RCM?

(A)Return Charge Medium (B)Reverse Charge Mechanism

(C)Real Charge Moment (D)Real Charge Method
12. _____________ is nil rated under GST.

(A)0% (B)5%
(C)18% (D)12%
13. The GSTR 1 due date of outward supply is _____________

(A)8 (B)9
(C)9 (D)10
14. ISD stands for _____________

(A)Input Sales Distributor (B)Indian Standard Date

(C)Input Service Distributor (D)Indian Source Distributor
15. _____________ is exempted goods.

(A)Agricultural Product (B)Meat

(C)A & B (D)Laptop
16. What is the full form of TCS?

(A)Trade Centre Service (B)True Centre Service

(C)Tax Collected at Source (D)Tax Centre of States

17. What is the full form of TDS?

(A)All of them (B)True Direct Sales

(C)Tax Deduction Service (D)Tax Deduct at Source
18. What is the full form of MRP?

(A)Most Recognized Price (B)Mainly Retail Price

(C)Max Rate Price (D)Maximum Retail Price
19. Which tax is applicable for goods sold from one state to other?

(A)IGST (B)CGST
(C)UTGST (D)SGST

20. The Excise and GST is applicable on _____________

(A)Tobacco & its Product (B)Alcohol

(C)Liquor (D)All Drugs
21. The Excise and Vat is applicable on _____________

(A)Meat (B)Alcohol for Human Consumption

(C)Egg (D)Tobacco & its Product
22. What is deemed supply?

(A)Export (B)Supply
(C)Supply to SEZ (D)Supply to export
23. What is the threshold limit to be eligible in Composition Scheme?

(A)5 Crore (B)1.5 Crore

(C)20 Lac (D)10 Lac
24. What is the meaning of Turnover?

(A)Value of maximum Sales for the year (B)Turn of every over

(C)Turn Taken in Business (D)Business over
25. What is electronic cash ledger?

(A)Ledger for Net Banking (B)Online Ledger

(C)Bank Transfer (D)Ledger for electronic goods only
26. What are capital goods?

(A)Machines (B)None
(C)Production equipment (D)Both A & B

27. What is the difference between interstate and intrastate?

(A)Tax transfer (B)Within the state and between the state

 (C)Statement (D)State tax
28. What is the relationship between HSN code & rate of taxation?

(A)Each code as a specific rate of tax (B)HSN Code is same for all taxes
(C)All codes have the same tax (D)No relation
29. What is the full form of VAT?

(A)Value Accepted Tax (B)Very Alternate Tax

(C)Version of Added Tax (D)Value Added Tax
30. The GSTR 2 due date is _____________

(A)15 (B)18
(C)16 (D)17
31. Which number becomes part of the GST number?

(A)PEN (B)PAN
(C)ADHAR NUMBER (D)ARN NUMBER
32. What do you mean by job work?

(A)Work done (B)Worker who does other jobs

(C)Job done by worker (D)Outsourcing of manufacturing to third party
33. What do you mean by set off?

(A)Official Settings (B)Difference between output and input tax

(C)Set of Offer (D)Set of Offices
34. Supply includes _____________

(A)Actionable Claims (B)Exchange

(C)Barter (D)All
35. What is the full form of ITR?
(A)In Tax Revert (B)Income Tax Ratio
(C)Income Tax Return (D)Income to Rural
36. What is SAD?

(A)Special Acceptable Duty (B)Some Added Duty

(C)Simple Additional Duty (D)Special Additional Duty

37. What is CVD?

(A)Casual Value Duty (B)Customs Value Duty

 (C)Counter Veiling Duty (D)Counter Value Duty
38. Which of the following are fixed assets?

(A)Land, Building and Machinery (B)Rejects in finished goods

(C)Consumables, waste material (D)Cash in hand
39. ITC stands for _____________

(A)Input Travel Concession (B)Input Tax Credit

(C)Input Travel Credit (D)Input Tax Concession

40. What is the full form of NEFT?

(A)Net Electronic Fund Transfer (B)Net Election Fund Taken

(C)National Electronics Funds Taken (D)National Electronic Funds Transfer
41. What is tax credit?

(A)Benefit towards tax paid earlier (B)Credit amount

(C)Tax amount (D)Credit list
42. What is the meaning of cascading effect of taxes?

(A)Reduction of tax (B)Doubling of tax

(C)Increase of tax at every stage of sales (D)Penalty on tax
43. What is the threshold limit for North Eastern States?

(A)20 Lac (B)5 Lac

(C)10 Lac (D)9 Lac
44. What is the threshold limit for GST registration except North Eastern State?

(A)19 Lac (B)5 Lac

(C)20 Lac (D)1.5 Crore
45. What is PAN?

(A)Place Accounts Network (B)Please Account Number

(C)Permanent Account Number (D)Permanent Acceptable Number
46. What is the full form of SAC?

(A)Special Additional Credit (B)Service Accounting Code

(C)Service And Credit (D)Service Accounts Credit
47. What is the full form of HSN?

(A)Harmonized System of Nomenclature(B)High System Number

(C)Harmony of State Name (D)Heavy System of Network

48. What is manufacturing?

(A)Generating new product by processing(B)Process of mixing

(C)Reaction (D)Process of packing
49. Who pays the reverse charge?
(A)Seller (B)Recipient
(C)Supplier (D)Advocate
50. UTGST means
(A)Union Territory GST (B)Untraceable Goods & Service Tax
(C)Union Trade GST (D)Untreatable Goods & Service Tax

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