Tuesday, May 26, 2015

Day 38 - Questions

Day 38 - Goods and Services Tax (GST)

( Goods and Services Tax )

Recommended Study links - (Go through these topics before attempting MCQs)

1.  What is the full form of GST?
a.  Goods and Sales Tax
b.  Goods and Services Tax
c.  Goods and Social Tax
d.  Goods and Simple Tax

2.  GST will replace -
a.  Direct Taxes
b.  Indirect Taxes
c.  Both (a) and (b)
d.  None of the above

3.  Which of the following is/are advantages of GST?
a.  Simple uniform tax structure
b.  It can increase tax revenue for government
c.  It can boost export
d.  All of the above

4.  All goods and services will be brought under the purview of GST, except -
a.  Consultation services
b.  Entertainment
c.  Alcoholic liquor for human consumption
d.  banking services

5.  Central government will compensate states for loss of revenue arising on account of implementation of the GST for a period of -
a.  3 years
b.  4 years
c.  5 years
d.  6 years

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