GST, Taxation & Financial Literacy

Q1.GST Constitutional Amendment:

A. 99th B. 100th C. 101st D. 102nd

Q2.GST Council chaired by:

A. PM B. President C. Union Finance Minister D. RBI Governor

Q3.GST replaces:

A. Income Tax B. Multiple indirect taxes C. Property Tax D. Corporate Tax

Q4.GST has how many tax slabs?

A. 3 B. 4 C. 5 D. 6

Q5.Income Tax is a:

A. Direct Tax B. Indirect Tax C. Both D. Neither

Q6.GST is a:

A. Direct Tax B. Indirect Tax C. Both D. Neither

Q7.PAN stands for:

A. Public Account Number B. Permanent Account Number C. Personal Access Number D. Payment Authorization Number

Q8.TDS stands for:

A. Tax Deducted at Source B. Total Domestic Sales C. Tax Department Service D. Trade Deposit Scheme

Q9.FDI stands for:

A. Fixed Deposit Investment B. Foreign Direct Investment C. Financial Development Index D. Federal Deposit Insurance

Q10.FEMA stands for:

A. Foreign Exchange Management Act B. Federal Emergency Management Agency C. Financial Exchange Monitoring Act D. Foreign Economic Monitoring Authority

Q11.SLR stands for:

A. Standard Lending Rate B. Statutory Liquidity Ratio C. State Level Revenue D. Savings and Loan Rate

Q12.Fiscal deficit =

A. Total income - total expenditure B. Total expenditure - total income C. Exports - imports D. None

Q13.Which body collects Income Tax?

A. RBI B. CBDT C. SEBI D. CBIC

Q14.Which body collects GST?

A. CBDT B. CBIC C. RBI D. SEBI

Q15.Inflation means:

A. Fall in prices B. Rise in general price level C. Stable prices D. Falling currency value only

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GST, Taxation & Financial Literacy

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GST, Taxation & Financial Literacy