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Lord Jesus Christ Says...

I tell you the truth, it is hard for a rich man to enter the kingdom of heaven. Again I tell you, it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of heaven. Jesus Christ

7 Jun 2018

GENERAL KNOWLEDGE--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:
(A) TDS
(B) TCS
(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?
(A) FAA
(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


1.      

2.      Test No 2 Questions and Answers

1 .
Direction : In each question below is given a statement followed by two assumptions numbered I and II. An assumption is something supposed or taken for granted. You have to consider the statement and the following assumptions and decide which of the assumptions is implicit in the statement.
Statements: India's strength lies in its pluralism and diversity. In fact, even western countries, which tended to be quite monolithic, are fast becoming pluralistic and diverse.
Assumptions: I. Diversity has become the order of the day.
                     II. No country can ignore the diversity among their populace.
 A.  if only assumption I is implicit.
 B.  if only assumption II is implicit.
 C.  if either I or II is implicit.
 D.  if neither I nor II is implicit.
Answer & Explanation
Answer : Option D
Explanation :
Here both may be conclusions but certainly are not assumptions. The speaker is a supporter of pluralistic society.

2 .
Direction : In each question below is given a statement followed by two assumptions numbered I and II. An assumption is something supposed or taken for granted. You have to consider the statement and the following assumptions and decide which of the assumptions is implicit in the statement.
Statement: When corrupt practices become a way of life, society degenerates and political stability is endangered.
Assumptions: I. Corruption harms every segment of society.
                      II. Only corruption-free society can have political stability.
 A.  if only assumption I is implicit.
 B.  if only assumption II is implicit.
 C.  if either I or II is implicit.
 D.  if neither I nor II is implicit.
Answer & Explanation
Answer : Option B
Explanation :
1 is not implicit because of the word every. II is implicit in the relationship between "corrup practices" and "political stability".

3 .
Direction : In each question below is given a statement followed by two assumptions numbered I and II. An assumption is something supposed or taken for granted. You have to consider the statement and the following assumptions and decide which of the assumptions is implicit in the statement.
Statement: "Those without a voter identity card will not be. permitted to vote even if their names are in the eligible voters' list."— Election Commissioner on the eve of election
Assumptions: I. Voter identity cards have been issued to all the voters in the country.
                      II. Voter identity cards have not been issued to all the voters in the country.
 A.  if only assumption I is implicit.
 B.  if only assumption II is implicit.
 C.  if either I or II is implicit.
 D.  if neither I nor II is implicit.
Answer & Explanation
Answer : Option B
Explanation :
If ' I ' were the Election Commissioner's assumption, he would not have talked of "those without a voter identity card". So 11 is a valid assumption.

4 .
Direction : Below is given a passage followed by several possible inferences which can be drawn from the facts stated in the passage. You have to examine each inference separately in the context of the passage and decide upon its degree of truth or falsity.
The historical experience of how country after country went from poverty to prosperity over the last two hundred years suggests that the transformation in each case was generally driven by one sector, which became the engine of the economy. In Britain it was textiles; in the US the industrial revolution was led by the railways, in today's language, the nation's competitive advantage emanates from its leading sector. Over the last fifty years India has struggled unsuccessfully to find its lead sector or its source of competitive advantage, and this explains, in part, its inability to create an industrial revolution. Now, it may have found it in the information or knowledge sectors of the economy.
US and Britain are the most prosperous countries in the world.
 A.  if the inference is definitely true, ie it properly follows from the statement of facts given.
 B.  if the inference is probably true though not definitely true in the light of the facts given.
 C.  if the data are inadequate, ie from the facts given you cannot say whether the inference is likely to be true or false.
 D.  if the inference is probably false though not definitely false in the light of the facts given.
Answer & Explanation
Answer : Option B
Explanation :
It is clear that Britain and US have converted themselves into prosperous countries. But are they the most prosperous ? As there names are cited as examples in the passage, we may infer so.

5 .
Direction : Below is given a passage followed by several possible inferences which can be drawn from the facts stated in the passage. You have to examine each inference separately in the context of the passage and decide upon its degree of truth or falsity.
The historical experience of how country after country went from poverty to prosperity over the last two hundred years suggests that the transformation in each case was generally driven by one sector, which became the engine of the economy. In Britain it was textiles; in the US the industrial revolution was led by the railways, in today's language, the nation's competitive advantage emanates from its leading sector. Over the last fifty years India has struggled unsuccessfully to find its lead sector or its source of competitive advantage, and this explains, in part, its inability to create an industrial revolution. Now, it may have found it in the information or knowledge sectors of the economy.
India got its independence fifty years ago.
 A.  if the inference is definitely true, ie it properly follows from the statement of facts given.
 B.  if the inference is probably true though not definitely true in the light of the facts given.
 C.  if the data are inadequate, ie from the facts given you cannot say whether the inference is likely to be true or false.
 D.  if the inference is probably false though not definitely false in the light of the facts given.
Answer & Explanation
Answer : Option B
Explanation :
From the fourth sentence this may be inferred. But it is also possible that the Indians started to find their lead sector some time after their independence. Hence probably true.

6 .
Direction : Below is given a passage followed by several possible inferences which can be drawn from the facts stated in the passage. You have to examine each inference separately in the context of the passage and decide upon its degree of truth or falsity.
The historical experience of how country after country went from poverty to prosperity over the last two hundred years suggests that the transformation in each case was generally driven by one sector, which became the engine of the economy. In Britain it was textiles; in the US the industrial revolution was led by the railways, in today's language, the nation's competitive advantage emanates from its leading sector. Over the last fifty years India has struggled unsuccessfully to find its lead sector or its source of competitive advantage, and this explains, in part, its inability to create an industrial revolution. Now, it may have found it in the information or knowledge sectors of the economy.
Two hundred years ago, all countries of the world were poor.
 A.  if the inference is definitely true, ie it properly follows from the statement of facts given.
 B.  if the inference is probably true though not definitely true in the light of the facts given.
 C.  if the data are inadequate, ie from the facts given you cannot say whether the inference is likely to be true or false.
 D.  if the inference is probably false though not definitely false in the light of the facts given.
Answer & Explanation
Answer : Option A
Explanation :
From the first sentence this can be inferred.

7 .
Direction : Below is given a passage followed by several possible inferences which can be drawn from the facts stated in the passage. You have to examine each inference separately in the context of the passage and decide upon its degree of truth or falsity.
The historical experience of how country after country went from poverty to prosperity over the last two hundred years suggests that the transformation in each case was generally driven by one sector, which became the engine of the economy. In Britain it was textiles; in the US the industrial revolution was led by the railways, in today's language, the nation's competitive advantage emanates from its leading sector. Over the last fifty years India has struggled unsuccessfully to find its lead sector or its source of competitive advantage, and this explains, in part, its inability to create an industrial revolution. Now, it may have found it in the information or knowledge sectors of the economy.
In near future India will not be listed among the prosperous countries.
 A.  if the inference is definitely true, ie it properly follows from the statement of facts given.
 B.  if the inference is probably true though not definitely true in the light of the facts given.
 C.  if the data are inadequate, ie from the facts given you cannot say whether the inference is likely to be true or false.
 D.  if the inference is probably false though not definitely false in the light of the facts given.
Answer & Explanation
Answer : Option D
Explanation :
From the last sentence it can be inferred that now with the help of information technology, India may drive its economy and become prosperous.

8 .
Direction : Below is given a passage followed by several possible inferences which can be drawn from the facts stated in the passage. You have to examine each inference separately in the context of the passage and decide upon its degree of truth or falsity.
The historical experience of how country after country went from poverty to prosperity over the last two hundred years suggests that the transformation in each case was generally driven by one sector, which became the engine of the economy. In Britain it was textiles; in the US the industrial revolution was led by the railways, in today's language, the nation's competitive advantage emanates from its leading sector. Over the last fifty years India has struggled unsuccessfully to find its lead sector or its source of competitive advantage, and this explains, in part, its inability to create an industrial revolution. Now, it may have found it in the information or knowledge sectors of the economy.
Indians are the most talented in information technology.
 A.  if the inference is definitely true, ie it properly follows from the statement of facts given.
 B.  if the inference is probably true though not definitely true in the light of the facts given.
 C.  if the data are inadequate, ie from the facts given you cannot say whether the inference is likely to be true or false.
 D.  if the inference is probably false though not definitely false in the light of the facts given.
Answer & Explanation
Answer : Option C
Explanation :
A comparison with other countries can't be done on the basis of the given passage.

9 .
Direction : Read the following information carefully and answer the questions given below:
Following are the criteria to give preferences in the allotment of berths to the wait-listed old citizens by the Indian
Railways:
The person who are wait-listed must
i) be more than 60 years of age.
ii) have obtained at least 'C ratings in no. of hours of travelling and no. of times of journey on the Indian Railways during the last five years. For this, five ratings — A , B, C, D and E — have been created on the basis of "Railways Travelling Report" (RTR) with the lowest rating of A and highest rating of E.
iii) have obtained at least ' D ' ratings in total distance travelled and no. of trains used for his/her journey by the Indian Railways during the last three years. For this, the six ratings A, B, C, D, E and F have been formulated on the basis of "Railways Travelling Report" with the lowest rating of A and the highest ratings of F.
iv) have retired from defence services.
However, in case of a candidate who fulfils all the criteria
EXCEPT
(a)(iv) above, but has retired from other government departments or PSUs, may be referred to the Chief Reservation Clerk.
(b)(i) above, but be more than 58 years of age and has submitted a medical certificate in favour of his/her unfitness, may be referred to the Medical Officer, IR. Based on these criteria and information provided against each candidate, decide the course of action. You are not to assume anything. If the data provided are not adequate to decide the given course of action, your answer will be "Data inadequate".
S Padmanavan, a retired defence personnel of 61 years of age, has obtained ' D ' ratings in no. of hours of travelling and no. of trains used for journey during the last five years in RTR. He has also obtained ' E' ratings in total distance travelled and no. of times of journey on Indian Railways during the last three years in RTR.
 A.  if preferences is to be given.
 B.  if data are inadequate.
 C.  if the case is to be referred to Chief Reservation Clerk.
 D.  if preferences is not to be given.
Answer & Explanation
Answer : Option B
Explanation :
(i) + (ii) + (iii) + (iv) = Option 1
(b) + (ii) + (iii) + (iv) = Option 5
(i) + (ii) + (iii) + (a) = Option 3
Anything not fulfilling = Option 4
Anything missing = Option 2
The ratings for no. of times of journey is given for three years only.
https://www.onlinetest.ibpsexamguru.in/public/images/chapter_questions/chq80888_ioqxtm/10046_169%20Explanation.png

10 .
Direction : Read the following information carefully and answer the questions given below:
Following are the criteria to give preferences in the allotment of berths to the wait-listed old citizens by the Indian
Railways:
The person who are wait-listed must
i) be more than 60 years of age.
ii) have obtained at least 'C ratings in no. of hours of travelling and no. of times of journey on the Indian Railways during the last five years. For this, five ratings — A , B, C, D and E — have been created on the basis of "Railways Travelling Report" (RTR) with the lowest rating of A and highest rating of E.
iii) have obtained at least ' D ' ratings in total distance travelled and no. of trains used for his/her journey by the Indian Railways during the last three years. For this, the six ratings A, B, C, D, E and F have been formulated on the basis of "Railways Travelling Report" with the lowest rating of A and the highest ratings of F.
iv) have retired from defence services.
However, in case of a candidate who fulfils all the criteria
EXCEPT
(a)(iv) above, but has retired from other government departments or PSUs, may be referred to the Chief Reservation Clerk.
(b)(i) above, but be more than 58 years of age and has submitted a medical certificate in favour of his/her unfitness, may be referred to the Medical Officer, IR. Based on these criteria and information provided against each candidate, decide the course of action. You are not to assume anything. If the data provided are not adequate to decide the given course of action, your answer will be "Data inadequate".
70-year-old Abdul Aziz is the father of Nazir Ahmed, a defence personnel. He retired from SAIL, a PSU, in 1990. He has obtained at least ' E ' ratings in all the four scales on the basis of RTR during the last fifteen years. Because of his old age he is unfit and so has submitted a medical certificate.
 A.  if preferences is to be given.
 B.  if data are inadequate.
 C.  if the case is to be referred to Chief Reservation Clerk.
 D.  if preferences is not to be given.
Answer & Explanation
Answer : Option C
Explanation :
(i) + (ii) + (iii) + (iv) = Option 1
(b) + (ii) + (iii) + (iv) = Option 5
(i) + (ii) + (iii) + (a) = Option 3
Anything not fulfilling = Option 4
Anything missing = Option 2
https://www.onlinetest.ibpsexamguru.in/public/images/chapter_questions/chq37886_nx49t3/77713_170%20Explanation.png


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