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6 Apr 2018

BANK EXAMINATION--GST - Expected Questions on Goods & Services Tax (GST Bill) + Banking awareness GK questions.

GST - Expected Questions on Goods & Services Tax (GST Bill) l MCQ for upsc ssc bank railway
GST - Expected Questions on Goods & Services Tax (GST Bill) l MCQ for upsc ssc bank railway.

Hello Readers, In this post we are sharing MCQs on Goods and Services Tax (GST) -2. These all Important MCQ related to GST most important for UPSC, CGL, SSC, RAILWAYS ,PSUs and all state level competitive Exams.

Q.1. The Number of Digits in the PAN based GSTIN registration Number will be:

(A) 10 Digits
(B) 12 Digits
(C) 14 Digits
(D) 15 Digits

Q.2. The Issuance of the Invoice or Receipt of Payment is known as :
(A) Actual Tax Point
(B) Basic Tax Point
(C) Either of the above
(D) None of the Above

Q.3. What will be the Amount of TDS in GST?
(A) Full Tax Amount
(B) SGST Tax Only
(C) CGST Tax Only
(D) 1% of the Payment

Q.4. The Tax Collected by E-Commerce Operators from the actual Suppliers of Goods is
termed as:
(C) Service tax
(D) All of the Above

Q.5. The filing of Monthly Returns in GST will be:
(A) At a stretch
(B) Two Phases
(C) Three Phases
(D) Four Phases

Q.6. The number of Return to be filed by a Casual Trader
(A) GSTR-1 Only
(B) GSTR-2 Only
(C) Both GSTR-1 and 2
(D) GSTR-1, 2, and 3

Q.7. The basic nature of assessment in GST will be:
(A) Self assessment
(B) Provisional Assessment
(C) Best Judgment Assessment
(D) Protective Assessment

Q.8. The Special Audit report is to be submitted normally within a period of :
(A) 30 days
(B) 60 days
(C) 90 Days
(D) 180 days

Q.9. What is a serious case in GST?
(A) Disputed Tax of and above 25 Lakhs
(B) Disputed Tax of and above 50 Lakhs
(C) Disputed Tax of and above 25 Crores
(D) Disputed Tax of and above 25 Crores

Q.10. Who will be the final fact finding authority in a tax case?
(B) Tribunal
(C) HC
(D) SC

Answer Key:
1. d
2. a
3. d
4. b
5. c
6. d
7. a
8. c
9. c
10. b

Banking Awareness GK Questions for Upcoming IBPS/SBI/RBI Exams
Banking Awareness GK Questions for Upcoming IBPS/SBI/RBI Exams

Q. 1. When the Payment Bank of India Government Post Office (India Post) started
Answer31 Jan. 2017 

Q. 2. How much is the minimum guaranteed interest rate offered under Senior Pension Insurance Scheme, 2017?

Q. 3. What is the new date for implementing Goods and Service Tax (GST) across the country?
Answer1st July 2017

Q. 4. India's first international exchange was inaugurated by Prime Minister Narendra Modi on 10th January, 2017?
AnswerIn Gandhinagar, capital of Gujarat

Q. 5. When the PayTm Payments Bank is going to start work?
Answer23rd May 2017

Q. 6. What is the full form for banking term 'NBFCs'?
AnswerNon Banking Financial Company

Q. 7. The Reserve Bank of India (RBI) launched a new portal on August 4, 2016 to monitor the tendency of companies to collect funds illegally by the public. What is the name given to this portal? 

Q. 8. The country has taken another step in the direction of the GST (Goods and Service Tax) when the Indian Parliament imposed its seal on the ______________ related to this subject.
Answer122nd Constitutional Amendment on August 8, 2016

Q. 9. The Central Government launched a mobile payment app on December 30, 2016 to facilitate easy payment of cash without paying.what is this app name?
AnswerBharat Interface for Money – BHIM

Q. 10. New TVs channel introduced by the Ministry of Electronics and Information Technology, for the purpose of promoting digital transactions in the country. What is the name of the channel?

Q. 11. New chairman of Life Insurance Corporation (LIC) has been appointed?
AnswerV.K. Sharma

Q. 12. Which venture was the first undertaking to start the operations of Payments Bank in India on November 23, 2016?
AnswerAirtel Payments Bank Ltd.

GK Questions with Answers for Bank Exams

Q.1. The Special Economic Zones (SEZ) Act was passed by Parliament in_________.
(1) June, 2000
(2) June, 2002
(3) May, 2004
(4) May, 2005
(5) December, 2014

Q.2. RBI governor who served as the Finance Minister in the Union Cabinet?
(1) Osborne Smith
(2) D. Subbarao
(3) Raghuram Rajan
(4) C. D. Deshmukh
(5) Urjit Patel

Q.3. What is the current sign of indian rupee?
(1) ₹
(2) INR
(3) Rs.
(4) indian rupee
(5) All of the above

Q.4. Who is the highest judicial forum and final court of appeal under the Constitution of India?
(1) Supreme Court of India
(2) President of the Republic of India
(3) Prime Minister of India
(4) Both 1 and 2
(5) None of these

Q.5. The National Commission on Farmers (NCF) constituted on________?
(1) May 18, 2004
(2) June 28, 2004
(3) October 08, 2004
(4) November 18, 2004
(5) November 28, 2004

Q.5. The National Commission on Farmers (NCF) constituted on________?
(1) May 18, 2004
(2) June 28, 2004
(3) October 08, 2004
(4) November 18, 2004
(5) November 28, 2004

Q.6. Who is the writter of  'India's Economic Policy: The Gandhian Blueprint' book?
(1) Arun Jaitley
(2) P. Chidambaram
(3) Manmohan Singh
(4) Pranab Mukherjee
(5) Charan Singh

Q.7. Lead Bank Scheme (LBS) was introduced in______?
(1) December, 1969
(2) June, 1965
(3) June, 1999
(4) April, 1997
(5) June, 2008

Q.8. Financial institution that does not supervised by a national or international banking regulatory agency?
(1) NBFI
(2) IDBI
(4) Reserve Bank of India
(5) None of these

Q.9. The term is not related to banking-
(1) Cashier's check
(2) Cheque
(3) Bank Draft
(4) Credit Card
(5) None of these

Q.10. Bitcoin is a_________.
(1) Term used in share market
(2) Payment system
(3) Intranet Service Provider
(4) Internet Service Provider
(5) None of these

Answer Key:
1. 4
2. 4
3. 1
4. 1
5. 4
6. 5
7. 1
8. 1
9. 5 (All are related to banking)
10. 2

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