M.COM Part 2 INDIRECT TAX MCQ PDF | Mumbai University Tax MCQ PDF

M.com Part 1 All Subject MCQ Link In One Link

1. HSN Code Stands for _________.
a) Home Shopping Network
b) Harmonised System of Nomenclature
c) Harmonised System Number
d) Home State Number
ANS: B

2. The main decision making body relating to
GST laws is the __________.
a) Central Govt.
b) Sales Tax Department
c) GST Council
d) CBDT
ANS: C

3. Services rendered by an agent on behalf of
principal are treated as rendered by _________.
a) Agent
b) Principal
c) Neither of them
d) Both of them
ANS: B

4. Supply of goods from one state to another
state by movement of goods will be treated as ___________supply.
a) Intra-state
b) Inter-state
c) Import
d) Local supply
ANS: B

5. GST is ___________based consumption tax.
a) Final
b) Sale
c) Destination
d) Manufacture
ANS: C

6. What is the full form of GST ?
a) Goods and Supply Tax
b) Goods and Services Tax
c) General Sales Tax
d) Government Sales Tax2
ANS: B

7. GST was implemented in India
from___________.
a) 1st January 2017
b) 1st April 2017
c) 1st March 2017
d) 1st July 2017
ANS: D

8. What does “I” in IGST stands stand for ?
a) Inter
b) Intregrated
c) Internal
d) Intra
ANS: B

9. What does “S” in SGST stands stand for ?
a) State
b) Status
c) Similar
d) Simple
ANS: A

10. IGST is payable when the supply is
___________.
a) Interstate
b) Intra- UT
c) Intra-state
d) Within the State
ANS: A

11. SGST is applicable when _________.
a) Goods are sold within a state
b) Goods are sold from one state to another state
c) Goods are Exported outside India
d) Goods are Supplied to SEZ unit
ANS: A

12. Goods and service tax is a __________ tax
system.
a) Single point
b) Multipoint
c) Regressive
d) Progressive3
ANS: B

13. UTGST is levied on supply of goods and
provision of services by ______.
a) Centre
b) State
c) Union Territory
d) Both (b) and (c)
ANS: C

14. GST would not be applicable to :
a) Alcohol Liquor for human consumption
b) Transportation of Goods
c) Transportation of Passenger
d) Supply of Taxable Services
ANS: A

15. Which of the following is subsumed under
Central GST ?
a) Service Tax
b) Custom Duty
c) Electricity Duty
d) Profession Tax
ANS: A

16. When a GST dealer in Kerala sells a product
to a GST dealer or customer in Tamil Nadu, the tax collected is _________.
a) SGST
b) CGST
c) UTGST
d) IGST
ANS: D

17. Which of the following taxes levied on
intra-State supply ?
a) CGST
b) SGST/UTGST
c) Both (a) and (b)
d) IGST
ANS: C

18. In India. GST Structure is_________ in
nature.
a) Dual
b) Single
c) Triple
d) Quadruple4
ANS: A

19. Services by an employee to the employer in
the course of or in relation to his employment is__________.
a) Supply of Goods
b) Not a supply
c) Supply of Services
d) Supply of Both goods and services
ANS: B

20. Which of the following taxes have not been
subsumed in State GST ?
a) Entry Tax
b) Stamp Duty
c) VAT
d) Entertainment Tax
ANS: B

21. Under GST law Compensation cess is
applicable on _________.
a) Luxury articles and demerit goods
b) Consumer goods
c) Petroleum products and Alcohol
d) All goods & services
ANS: A

22. Goods which get input tax credit without
being liable to collect output tax is called_________.
a) Exempt goods
b) Zero rated goods
c) Taxable goods
d) Nil Rated goods
ANS: B

23. Under GST law, “Aggregate turnover” of a
dealer doesn’t include _________.
a) GST and Cesses
b) Interstate Supplies
c) Exports Supplies
d) Exempt Supplies
ANS: A

24. _________refers to receipt of goods or
services or both whether by purchase, acquisition or any other means with or
without consideration.
a) Outward supply
b) Taxable supply
c) Exempt Supply
d) Inward supply
ANS: D

25. Who is the chairman of GST Council ?
a) Vice President of India
b) Union Finance Minister
c) Leader of opposition
d) Chief justice of Supreme Court