Banking Awareness Quiz On ( GST )

1. The government has recently launched GST regime, effective from July 1, 2017. What is GST ?
A.) Goods and Services Tax (GST)
B.) Good and Services Tax (GST)
C.) Goods and Service Tax (GST)
D.) None of these


2. India has chosen ____________ model of dual-GST?
A.) Canadian
B.) Cuba
C.) Belize
D.) Nicaragua


3. The Central Board of Excise and Customs (CBEC) has recently announced that ___________ will be observed as GST Day ?
A.) 1st June
B.) 1st July
C.) 30st June
D.) 02nd July


4. The main objective of GST is to ______________ excessive taxation.
A.) exempt
B.) exclude
C.) eliminate
D.) None


5. In GST only three type of taxes will be charged in whole country. What are they ?
A.) CGST, EGST & LGST
B.) CGST, SGST & IGST
C.) CGST, SGST & KGST
D.) RGST, SGST & IGST


6. What is CGST?
A.) Center Goods and Service Tax
B.) Capital Goods and Service Tax
C.) Capacity Goods and Service Tax
D.) Central Goods and Service Tax


7. What is SGST?
A.) State Goods and Service Tax
B.) S Goods and Service Tax
C.) South Goods and Service Tax
D.) None


8. What is IGST?
A.) Integrated Goods and Service Tax
B.) Indian Goods and Service Tax
C.) Initial Goods and Service Tax
D.) None


9. France has implemented GST in which year?

A.) 1966
B.) 1956
C.) 1954
D.) 1964


10. Only ______________ has dual GST model (Just like India is going to implement Dual GST Model).
A.) Canada
B.) Bahamas
C.) Jamaica
D.) Mexico


11. In India, the GST Council has come out with a four-rate structure. They are?
A.) 5%, 12%, 18% and 24%
B.) 5%, 12%, 18% and 26%
C.) 5%, 12%, 18% and 28%
D.) 5%, 12%, 16% and 28%


12. Which country has the second-highest GST rate of 27%?
A.) Colombia
B.) Brazil
C.) Argentina
D.) Chile


13. The Goods and Services Tax (GST) was first proposed in which year?
A.) 2001
B.) 2002
C.) 2000
D.) 2002


14. Which Article of the Constitution as amended by 101st Constitutional Amendment Act, 2016 defines the Goods and Services tax (GST) as a tax on supply of goods or services or both?
A.) Article 366 (12A)
B.) Article 366 (1A)
C.) Article 356 (12A)
D.) Article 356 (1A)


15. Around how many countries have already implemented the GST?
A.) 157
B.) 158
C.) 159
D.) 160


16. Which country has the maximum GST rate slab of 28%? highest among more than 160 countries across the world that have implemented GST?
A.) Canada
B.) India
C.) US
D.) Argentina


17. The IGST is charged by?
A.) Central Government of India
B.) State Government of Andhra
C.) Only 1
D.) Only 2


18. __________ is doing away with indirect taxes such Central Excise Duty, Service Tax, Addl. Customs Duty, Special Addl. Customs Duty as well as Addl. Excise Duty (These indirect taxes are those that are collected by the Centre).
A.) SGST
B.) CGST
C.) IGST
D.) None


19. __________ is doing away with indirect taxes such Central Excise Duty, Service Tax, Addl. Customs Duty, Special Addl. Customs Duty as well as Addl. Excise Duty (These indirect taxes are those that are collected by the Centre).
A.) CGST
B.) SGST
C.) IGST
D.) RGST


20. Which country is the First to Implement GST?
A.) Brazil
B.) Argentina
C.) France
D.) Canada



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