Mumbai University Tax MCQ PDF

  M.com Part 1 All Subject MCQ Link In One Link Click Here👈   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 ANS: B   M.com Part 2 Other Subject MCQ  FINANCIAL MANAGEMENT https://www.mumbaiuniversityidol.com/2021/04/financial-management-mcom-part-2-mcq-pdf.html 1. https://www.surajpateleducation.com/2021/05/financial-management-mcq-book-pdf.html 2. https://www.surajpateleducation.com/2021/04/mcom-part-2-financial-management-mcq-pdf.html ENTREPRENEURSHIP https://www.mumbaiuniversityidol.com/2021/05/mcom-part-2-entrepreneurship.html 1) https://www.surajpateleducation.com/2021/01/entrepreneurship-mcom-part-2-multiple.html https://www.surajpateleducation.com/2021/01/entrepreneurship-development-importance.html AUDITING https://www.mumbaiuniversityidol.com/2021/05/auditing-mcom-part-2-mcq-pdf-mcom-part.html 1. https://www.surajpateleducation.com/2020/10/auditing-question-bank-2020.html 2. https://www.mumbaiuniversityidol.com/2021/05/auditing-mcom-part-2-mcq-pdf-mcom-part.html RESEARCH METHODOLOGY https://www.mumbaiuniversityidol.com/2021/05/research-methodology-mcom-part-2-mcq.html 1. https://www.surajpateleducation.com/2020/10/suraj-patel-education-research.html 2. https://www.surajpateleducation.com/2020/10/research-methodology-mcom-part-ii.html