Goods and Services Tax - introduction to GST, CGST, SGST, UTGST, IGST, taxable event, consideration, levy and collection of GST, exemptions from GST, place and time of supply, value of taxable supply, input tax credit - One Line Questions

1. The GST identification number (GSTIN) is a: — 15-digit alphanumeric number
2. The maximum rate of IGST that can be recommended by the GST Council is: — 40%
3. Consideration for supply under GST means: — Payment made or promised, whether in money or otherwise, for the supply of goods or services
4. ITC cannot be claimed on: — Motor vehicles purchased for a business of trading in them
5. CGST stands for: — Central Goods and Services Tax
6. Which entity is responsible for administering SGST? — State Government
7. Which tax is levied on interstate supply of goods or services? — IGST
8. Which of the following is NOT a component of GST? — Customs Duty
9. A supply made by a registered person to an unregistered person in a different state attracts: — IGST
10. For supply of services, the time of supply is generally the earlier of: — Date of invoice or date of completion of service
11. For supply of goods, the time of supply is generally the earlier of: — Date of invoice or date of payment
12. GST is a ______ tax. — Indirect Tax
13. Which tax was subsumed by GST on services? — Service Tax
14. Which of the following is NOT a type of supply under GST? — Non-taxable supply
15. Zero-rated supplies include: — Both (a) and (b)
16. Which body recommends GST rates in India? — GST Council
17. What is the full form of GST? — Goods and Services Tax
18. ITC is available for which of the following? — Goods and services used for taxable supplies
19. GST is levied on: — Goods and services
20. A supply made by a registered person to an unregistered person within the same state attracts: — CGST and SGST
21. The Constitution (One Hundred and First Amendment) Act, 2016 paved the way for: — Implementing GST
22. Input Tax Credit on capital goods can be availed: — Over a period of 5 years
23. Levy and collection of GST are governed by which Act? — Central Goods and Services Tax Act, 2017
24. GST aims to consolidate which of the following taxes? — VAT, Service Tax, Excise Duty
25. IGST stands for: — Integrated Goods and Services Tax
26. Which of the following is generally considered an exempt supply under GST? — Basic education services
27. For a supply of services, the place of supply is generally the: — Location of the service recipient
28. For a supply of goods, the place of supply is generally the: — Location where the goods are physically located at the time of supply
29. The 'taxable event' under GST is: — Supply of goods or services
30. Which of the following is NOT an essential component of a valid tax invoice under GST? — Signature of the recipient
31. Which tax was subsumed by GST on most goods? — VAT
32. When can a person voluntarily obtain GST registration? — Even if the turnover is below the threshold limit
33. The concept of 'apportionment of input tax credit' is related to: — Usage of inputs for taxable, exempt, and non-business supplies
34. Which of the following conditions must be met to claim ITC? — All of the above
35. The 'value of taxable supply' is the: — Total amount charged by the supplier for the supply, excluding GST
36. The GST Council is chaired by: — Finance Minister of India
37. Which of the following is an example of a supply attracting Reverse Charge Mechanism? — Purchase of goods/services from an unregistered supplier by a registered person (certain categories)
38. Which of the following is considered a 'supply' under GST? — All of the above
39. Exemptions from GST are provided under which section of the CGST Act? — Section 11
40. Which section of the CGST Act deals with Input Tax Credit? — Section 16
41. SGST stands for: — State Goods and Services Tax
42. Which entity is responsible for administering CGST? — Central Government
43. UTGST is levied on taxable supplies within: — Union Territories
44. Input Tax Credit (ITC) refers to: — Tax paid on inputs that can be set off against the output tax liability
45. A 'Reverse Charge Mechanism' (RCM) means: — The recipient pays the GST
46. The place of supply for services provided remotely to a recipient located in India is generally: — The recipient's location
47. The 'time of supply' determines: — The point in time when GST liability arises
48. What is the primary objective of GST in India? — To create a single, unified market by removing cascading tax effects
49. The 'place of supply' determines: — Who collects the GST
50. What is the threshold limit for registration under GST for most states in India? — ₹40 Lakhs
All One Line Questions
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