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GST MCQ Questions and Solutions with Explanations | Commerce

GST MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. GST MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-1 section-2

Each section contains 100 MCQs on GST .
1
Who is the chairman of GST council?
Discuss
Answer & Solution
Answer: Option C
Solution:
Finance Minister (currently Arun Jaitley) is the chairman of GST council
2
_______ is GST Finance Ministers First Panel Chairman.
Discuss
Answer & Solution
Answer: Option A
Solution:
Amit Mitra (West Bengal Finance Minister) is the Finance Ministers Panel Chairman.
3
_______ is the first state to ratify GST bill.
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
4
_______ is the first state that passed GST bill.
Discuss
Answer & Solution
Answer: Option E
Solution:
Telangana was the first state to pass the State GST Bill on 9th April, 2017 Assam was the first state to ratify the GST Bill on 12th August, 2016
5
GST threshold limit of North Eastern States is _______ lakhs
Discuss
Answer & Solution
Answer: Option B
Solution:
GST will apply when turnover of the business exceeds Rs 20 lakhs (Limit is Rs 10 lakhs for the North Eastern States)
6
GST threshold limit of Normal States is _______ lakh
Discuss
Answer & Solution
Answer: Option C
Solution:
GST will apply when turnover of the business exceeds Rs 20 lakhs (Limit is Rs 10 lakhs for the North Eastern States)
7
The Central Board of Excise and Customs (CBEC) announced that every year _______ will be considered as GST Day.
Discuss
Answer & Solution
Answer: Option D
No explanation is given for this question. Let's Discuss on Board
8
Smart Phones will be taxed at _______ under GST.
Discuss
Answer & Solution
Answer: Option D
Solution:
At the 39th GST Council, the GST rate on mobile phones has been raised from 12 percent to 18 percent.
9
Under GST, Insurance is taxed _______ percent.
Discuss
Answer & Solution
Answer: Option D
No explanation is given for this question. Let's Discuss on Board
10
Who will notify the rate of tax to be levied under CGST?
Discuss
Answer & Solution
Answer: Option D
No explanation is given for this question. Let's Discuss on Board