GST(Goods And Services Tax) MCQ Questions and answers-

1.The concept of Goods and Services Tax (GST) is originated in………..
Veiw Answer
Ans. Canada
Explanation: The Goods and Services Tax (GST) is a Canadian value-added tax levied on most goods and services sold for domestic consumption. In India this tax is levied to abolish the multiple indirect taxes in the country.

2. Which of the following is statement is not correct about GST?
Veiw Answer
Ans.GST will abolish all the direct tax levied in India
Explanation: GST will abolish all the Indirect Tax levied in India.

3. Which of the following tax will be abolished by the GST?
Veiw Answer
Ans. Service Tax
Explanation: GST will subsume all the indirect taxes applicable in India. Service tax is an indirect tax so it will be abolished throughout India.

4. Which of the following tax rate is not applicable under the GST?
Veiw Answer
Explanation: GST will comprise five basic rates: 0 percent, 5 percent, 12 percent, 18 percent and 28 percent.

5.GST will be levied on………………..
Veiw Answer
Ans. All of the above
Explanation: The GST is an indirect tax which means that the tax is passed on till the last stage wherein it is the customer of the goods and services who bears the tax.

6. What kind of Tax is GST?
Veiw Answer
Ans. Indirect Tax
Explanation: Goods and Services Tax is an indirect tax which will be levied on the goods and services both.

7. Who is the head of the GST council?
Veiw Answer
Ans. Arun Jaitley
Explanation: The GST Council aims to develop a harmonized national market of goods and services. The Union Finance Minister Arun Jaitley is the Chairman of the GST council.