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7 May 2018

BANK PO--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
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

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.

Q. 1. ______________ is a small software program used for online purchase transactions.
(1) Wallet
(2) Bank Account
(3) Fixed Deposit
(4) Net Banking
(5) All of the above

Q. 2. ______________ is not a currency.
(1) Dollar
(2) Bitcoin
(3) Rupees
(4) Nasa
(5) Euro

Q. 3. A document used in software engineering, known as______________.
(1) User Mannual
(2) CPU
(3) TPS
(4) PDA
(5) None of the above

Q. 4. Which is NOT a valid digital payment system?
(1) Paytm
(2) Bitcoin
(3) Blockchain
(4) Unocoin
(5) None of the above

Q. 5. State Bank of India (SBI) headquarters situated in____________.
(1) Mumbai
(2) Hyderabad
(3) New Delhi
(4) Kolkata
(5) Pune

Q. 6. Digital representation of value, not issued by a central bank known as_____________.
(1) Wallet
(2) Virtual Currency
(3) Digital Payment
(4) Net Banking
(5) All of the above

Q. 7. _____________is the first decentralized cryptocurrency in 2009.
(1) Paytm
(2) Bitcoin
(3) Blockchain
(4) Unocoin
(5) None of the above

Q. 8. National banknotes are generally____________.
(1) Legal tender
(2) Paper money
(3) Bill
(4) Promissory note
(5) Coin

Q. 9. Bank cheque is less used due to_______________.
(1) Bank frauds
(2) Electronic payment systems
(3) Net Banking
(4) Charges
(5) None of the above

Q. 10. Choose best example of a Private goods-
(1) cars
(2) food
(3) clothing
(4) parking spaces
(5) All of the above

Answer key:
1. 1
2. 4
3. 3
4. 5
5. 1
6. 2
7. 2
8. 1
9. 2
10. 5

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