Economics

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Online Examination

UPSC, PSC, BANK, RAILWAY,etc. Examination Questions

Questions about Indian Economics including Kerala Administrative Service (KAS), Secretariat Assistant, Panchayath Secretary, BDO, Auditor, Assistant, LDC and LGS examination level questions. You need a lot of experience in taking an online exam.

1.

The head quarters of GST council is located in

Ans:-New Delhi


2.

Which state became the first state of India to ratify GST bills

Ans:-Assam


3.

Which amendment Act as GST was introduced

Ans:-101


4.

A special purpose of vehicle has been launched to cater the need of GST

Ans:-GSTN- Goods Services Tax Network


5.

GST threshold limit being North East (NE) and hilly states is

Ans:-20 Lakhs


6.

Who is the chairman of GST council

Ans:-Finance Minister (Arun Jaitely -2017)


7.

GST is a _____________ based tax on consumption of goods and services

Ans:-Destination based tax / consumption based tax

Exports are allowed with zero taxes and imports are taxed on part with the domestic consumption


8.

In which year GST was first introduced in India?

Ans:-2000


9.

In IGST , I stands for

Ans:-Integrated


10.

Indian GST model has how many bands of tax rates?

Ans:-4


11.

The country with second highest tax slab ie 27% is

Ans:-Argentina


12.

In India GST came effective from july 1st 2017 from which country India has borrowed dual GST model

Ans:-Canadian


13.

Presently how many countries have implemented GST

Ans:-180


14.

The tax IGST charged by

Ans:-Central


15.

GST comes under which amendment bill

Ans:-122


16.

Creation of the GST council as per Article of the amendment constitution

Ans:-279A


17.

GST exemption threshold limit of North Eastern State is

Ans:-10 lakh


18.

What is sin tax

Ans:-Sin taxes are imposed to discourage consumers from using goods or service or detrimental to society


19.

GST exemption threshold limit of North Eastern State is

Ans:-10 lakh


20.

GSTN comes under which Act

Ans:-Companies Act 2013


21.

What does N stands for in HSN

Ans:-Harmonized System of Nomenclature code used for classifying the goods under GST


22.

The highest rate of tax prescribed under IGST is

Ans:-28%


23.

The country with highest GST rate in the world is

Ans:-India


24.

Which state is the first state of GST bill passed?

Ans:-Telangana


25.

Combined stake of Central and State Government in GSTN is _______

Ans:-49%


26.

The central Board of Excise and Customs (CBEC ) announced that every year _______ will be considered as GST day

Ans:-July 1


27.

Who is the chairman of GST committee of state finance ministers

Ans:-West Bengal Finance Minister( Amit Mitra ) is the Finance Ministers panel Chairman


28.

How many types of GST in India

Ans:-3-Central GST (CGST), Stage GST(SGST) and IGST are three types of taxes


29.

What is the integrated Goods and service Tax

Ans:-Tax imposed on inter state rate


30.

Which Tax system abolish all the taxes levied in India

Ans:-GST


31.

GST will be levied on

Ans:-GST


32.

What kind of tax on GST

Ans:-Indirect Tax, Which levied on goods and service


33.

Which taxes abolished by the GST

Ans:-All the indirect taxes (Service Tax, Value added tax)