INDIRECT TAX FREE MOCK TEST ( M.com & T.Y.B.com )

Suraj Patel Education

INDIRECT TAX  

( FREE MOCK TEST )

Part 4 Link Click Here

https://www.surajpateleducation.com/2020/10/mcom-tybcom-indirect-tax-20-most.html

1. The incidence of tax on tax is called

A) Tax Cascading
B) Tax Pyramidding
C) Tax evasion
D) Indiret tax

... Answer is A)

2. Goods and service tax is a – tax system

A) Single point tax
B) Multipoint tax
C) Regressive tax
D) None of these

... Answer is B)

3. Introduction of GST affects the revenue of

A) Consuming states
B) Manufacturing states
C) All the states
D) Central Government

... Answer is B)

4. Under GST law “Aggregate turnover” of a dealer

A) Includes taxes paid
B) Excludes taxes paid
C) Includes exempt supplies
D) Turnover plus taxs plus profit

... Answer is B)

5. Output tax of a taxable person

A) Includes reverse charge
B) Excludes reverse charge
C) Includes composite tax
D) Includes all the taxes paid

... Answer is B)

6. The chair of GST Council

A) Nominated by the Govt
B) Nominated by the GST Council
C) Union Finance Minister
D) Elected by the GST council

... Answer is C)

7. The rate of IGST is equal to the rate of

A) CGST
B) SGST
C) CGST plus the rate of SGST
D) SGST plus UTGST

... Answer is C)

8. The maximum limit of IGST rate fixed in the Act is

A) 18%
B) 28%
C) 40%
D) 100%

... Answer is C)

9. Half share of IGST moves always to

A) a) Selling state
B) Buying state
C) Equally to selling state and buying state
D) None of these

... Answer is B)

10. Hotels eligible for composition scheme shall be liable to pay tax at the rate of

A) 5%
B) 1%
C) 18%
D) 12%

... Answer is A)