The government has kept a large number of items under 18% tax slab. The government categorized 1211 items under various tax slabs. Here is a low-down on the tax slab these items would attract:
Watch video for explanation:
Here is the complete updated list:
Gold and rough diamonds do not fall under the current rate slab ambit and will be taxed at 3% and 0.25% respectively.
No tax(0%)
Goods
No tax will be imposed on items like Jute, fresh meat, fish chicken, eggs, milk, butter milk, curd, natural honey, fresh fruits and vegetables, flour, besan, bread, prasad, salt, bindi. Sindoor, stamps, judicial papers, printed books, newspapers, bangles, handloom, Bones and horn cores, bone grist, bone meal, etc.; hoof meal, horn meal, Cereal grains hulled, Palmyra jaggery, Salt - all types, Kajal, Children's' picture, drawing or colouring books, Human hair
Services
Hotels and lodges with tariff below Rs 1,000, Grandfathering service has been exempted under GST. Rough precious and semi-precious stones will attract GST rate of 0.25 per cent.
5% Goods
Items such as fish fillet, Apparel below Rs 1000, packaged food items, footwear below Rs 500, cream, skimmed milk powder, branded paneer, frozen vegetables, coffee, tea, spices, pizza bread, rusk, sabudana, kerosene, coal, medicines, stent, lifeboats, Cashew nut, Cashew nut in shell, Raisin, Ice and snow, Bio gas, Insulin, Agarbatti, Kites, Postage or revenue stamps, stamp-post marks, first-day covers
Services
Transport services (Railways, air transport), small restraurants will be under the 5% category because their main input is petroleum, which is outside GST ambit.
Services
State-run lotteries, Non-AC hotels, business class air ticket, fertilisers, Work Contracts will fall under 12 per cent GST tax slab
GST MCQs
Watch Video click here:
1). In India GST came effective from July 1st, 2017. India has chosen ___ model of dual – GST.
a) USA b) UK c) Canadian d) China e) Japan
Answer: (C).
2). How many countries have dual – GST model?
a) 5 b) 8 c) 10 d) 14 e) None of these
Answer: (E). Till now Canada only has dual GST model but now India also started to use dual-GST model.
Dual GST regime i.e. Central and State GST.
3). Which of the following country is the first one to implement GST?
a) USA b) France c) China d) Switzerland e) Germany
Answer: (B). France implemented GST in 1954.
4). Around how many countries adopted GST?
a) 90 b) 120 c) 140 d) 160 e) 200
Answer: (D).
5). Which of the following country has the maximum GST tax slab?
a) Greece b) China c) USA d) Australia e) India
Answer: (E). India has the maximum tax slab (28%) compared to other countries.
6). Which of the following country has the second highest tax slab?
a) Australia b) Netherland c) Argentina d) Ireland e) South Korea
Answer: (C). Argentina has the second highest tax slab 27%
7). Indian GST model has _____rate structure.
a) 3 b) 4 c) 5 d) 6 e) 2
Answer: (B). In India GST model has 4 rate structure. They are 5%, 12%, 18% and 28%
8). How many types of taxes will be in Indian GST?
a) 2 b) 3 c) 4 d) 5 e) 6
Answer: (B). Central GST (CGST), State GST (SGST) and IGST are three types of taxes.
9). What does “I” stands for in IGST?
a) International b) Internal c) Integrated d) Intra e) Innovation
Answer: (C).
10). The tax IGST charged by _____Government.
a) Central b) State c) Concerned department d) Both a and b e) All a, b and c
Answer: (A).
11). The maximum rate prescribed under IGST is ___.
a) 5% b) 12% c) 18% d) 28% e) No such limit
Answer: (D).
12). In India GST was first proposed in ___.
a) 1993 b) 1996 c) 1999 d) 2000 e) 2002
Answer: (D).
13). GST is a ___ based tax on consumption of goods and services.
a) Duration b) Destination c) Dividend d) Development e) Destiny
Answer: (B). main objective of GST is eliminate excessive taxation
14). GST comes under which amendment bill?
a) 118 b) 120 c) 122 d) 115 e) 129
Answer: (C).
15). Under which Act GST was introduced?
a) 100 b) 101 c) 102 d) 103 e) 104
Answer: (B)
16). GST council formation based on Article number ___.
a) 279A b) 289A c) 266A d) 255A e) 286A
Answer: (A)
17). The headquarters of GST council is ___.
a) Mumbai b) New Delhi c) Ahmadabad d) Hyderabad e) Lucknow
Answer: (B).
18). Who is the chairman of GST council?
a) President of India b) Prime Minister c) Finance Minister d) RBI Governor e) Finance secretary
Answer: (C). Arun Jaitley is the current chairman of GST council
19). ___ is GST Finance Ministers Panel Chairman.
a) Amit Mishra b) Amit Malhodra c) Amit Chandresekar d) Amit Sastri e) Amit kohli
Answer: (A). Amit Mishra (West Bengal Finance Minister) is the Finance Ministers Panel Chairman.
20). ___ is the first state to ratify GST bill.
a) Andhra Pradesh b) Assam c) Arunachal Pradesh d) Bihar e) Telangana
Answer: (B)
21). ___ is the first state that passed GST Bill.
a) Andhra Pradesh b) Gujarat c) Uttar Pradesh d) Bihar e) Telangana
Answer: (E).
22). GST threshold limit of North Eastern States is ___ lakh
a) 5 b) 10 c) 12 d) 15 e) 20
Answer: (B).
23). GST threshold limit of Normal States is ___ lakh
a) 12 b) 15 c) 20 d) 25 e) 30
Answer: (C).
24). The Central Board of Excise and Customs (CBEC) announced that every year ___ will be considered as GST Day.
a) April 1 b) March 1 c) June 1 d) July 1 e) January 1
Answer: (D)
25). Smart Phones will be taxed at ___ under GST.
a) 0% b) 5% c) 12% d) 18% e) 28%
Answer: (C).
26). Under GST, Insurance is taxed ___ percent.
a) 0% b) 5% c) 12% d) 18% e) 28%
Items such as fish fillet, Apparel below Rs 1000, packaged food items, footwear below Rs 500, cream, skimmed milk powder, branded paneer, frozen vegetables, coffee, tea, spices, pizza bread, rusk, sabudana, kerosene, coal, medicines, stent, lifeboats, Cashew nut, Cashew nut in shell, Raisin, Ice and snow, Bio gas, Insulin, Agarbatti, Kites, Postage or revenue stamps, stamp-post marks, first-day covers
Services
Transport services (Railways, air transport), small restraurants will be under the 5% category because their main input is petroleum, which is outside GST ambit.
12% Goods
Apparel above Rs 1000, frozen meat products , butter, cheese, ghee, dry fruits in packaged form, animal fat, sausage, fruit juices, Bhutia, namkeen, Ayurvedic medicines, tooth powder, agarbatti, colouring books, picture books, umbrella, sewing machine, cellphones, Ketchup & Sauces, All diagnostic kits and reagents, Exercise books and note books, Spoons, forks, ladles, skimmers, cake servers, fish knives, tongs, Spectacles, corrective, Playing cards, chess board, carom board and other board games, like ludo,
Apparel above Rs 1000, frozen meat products , butter, cheese, ghee, dry fruits in packaged form, animal fat, sausage, fruit juices, Bhutia, namkeen, Ayurvedic medicines, tooth powder, agarbatti, colouring books, picture books, umbrella, sewing machine, cellphones, Ketchup & Sauces, All diagnostic kits and reagents, Exercise books and note books, Spoons, forks, ladles, skimmers, cake servers, fish knives, tongs, Spectacles, corrective, Playing cards, chess board, carom board and other board games, like ludo,
State-run lotteries, Non-AC hotels, business class air ticket, fertilisers, Work Contracts will fall under 12 per cent GST tax slab
18% Goods Most items are under this tax slab which include footwear costing more than Rs 500, Trademarks, goodwill, software, Bidi Patta, Biscuits (All catogories), flavoured refined sugar, pasta, cornflakes, pastries and cakes, preserved vegetables, jams, sauces, soups, ice cream, instant food mixes, mineral water, tissues, envelopes, tampons, note books, steel products, printed circuits, camera, speakers and monitors,Kajal pencil sticks, Headgear and parts thereof, Aluminium foil, Weighing Machinery [other than electric or electronic weighing machinery], Printers [other than multifunction printers], Electrical Transformer, CCTV, Optical Fiber, Bamboo furniture, Swimming pools and padding pools, Curry paste; mayonnaise and salad dressings; mixed condiments and mixed seasonings
Services AC hotels that serve liquor, telecom services, IT services, branded garments and financial services will attract 18 per cent tax under GST, Room tariffs between Rs 2,500 and Rs 7,500, Restaurants inside five-star hotels
28% Goods Bidis, chewing gum, molasses, chocolate not containing cocoa, waffles and wafers coated with choclate, pan masala, aerated water, paint, deodorants, shaving creams, after shave, hair shampoo, dye, sunscreen, wallpaper, ceramic tiles, water heater, dishwasher, weighing machine, washing machine, ATM, vending machines, vacuum cleaner, shavers, hair clippers, automobiles, motorcycles, aircraft for personal use, will attract 28 % tax - the highest under GST system.
Services Private-run lotteries authorised by the states, hotels with room tariffs above Rs 7,500, 5-star hotels, race club betting, cinema will attract tax 28 per cent tax slab under GST 28% Goods Bidis, chewing gum, molasses, chocolate not containing cocoa, waffles and wafers coated with choclate, pan masala, aerated water, paint, deodorants, shaving creams, after shave, hair shampoo, dye, sunscreen, wallpaper, ceramic tiles, water heater, dishwasher, weighing machine, washing machine, ATM, vending machines, vacuum cleaner, shavers, hair clippers, automobiles, motorcycles, aircraft for personal use, will attract 28 % tax - the highest under GST system.
GST MCQs
Watch Video click here:
1). In India GST came effective from July 1st, 2017. India has chosen ___ model of dual – GST.
a) USA b) UK c) Canadian d) China e) Japan
Answer: (C).
2). How many countries have dual – GST model?
a) 5 b) 8 c) 10 d) 14 e) None of these
Answer: (E). Till now Canada only has dual GST model but now India also started to use dual-GST model.
Dual GST regime i.e. Central and State GST.
3). Which of the following country is the first one to implement GST?
a) USA b) France c) China d) Switzerland e) Germany
Answer: (B). France implemented GST in 1954.
4). Around how many countries adopted GST?
a) 90 b) 120 c) 140 d) 160 e) 200
Answer: (D).
5). Which of the following country has the maximum GST tax slab?
a) Greece b) China c) USA d) Australia e) India
Answer: (E). India has the maximum tax slab (28%) compared to other countries.
6). Which of the following country has the second highest tax slab?
a) Australia b) Netherland c) Argentina d) Ireland e) South Korea
Answer: (C). Argentina has the second highest tax slab 27%
7). Indian GST model has _____rate structure.
a) 3 b) 4 c) 5 d) 6 e) 2
Answer: (B). In India GST model has 4 rate structure. They are 5%, 12%, 18% and 28%
8). How many types of taxes will be in Indian GST?
a) 2 b) 3 c) 4 d) 5 e) 6
Answer: (B). Central GST (CGST), State GST (SGST) and IGST are three types of taxes.
9). What does “I” stands for in IGST?
a) International b) Internal c) Integrated d) Intra e) Innovation
Answer: (C).
10). The tax IGST charged by _____Government.
a) Central b) State c) Concerned department d) Both a and b e) All a, b and c
Answer: (A).
11). The maximum rate prescribed under IGST is ___.
a) 5% b) 12% c) 18% d) 28% e) No such limit
Answer: (D).
12). In India GST was first proposed in ___.
a) 1993 b) 1996 c) 1999 d) 2000 e) 2002
Answer: (D).
13). GST is a ___ based tax on consumption of goods and services.
a) Duration b) Destination c) Dividend d) Development e) Destiny
Answer: (B). main objective of GST is eliminate excessive taxation
14). GST comes under which amendment bill?
a) 118 b) 120 c) 122 d) 115 e) 129
Answer: (C).
15). Under which Act GST was introduced?
a) 100 b) 101 c) 102 d) 103 e) 104
Answer: (B)
16). GST council formation based on Article number ___.
a) 279A b) 289A c) 266A d) 255A e) 286A
Answer: (A)
17). The headquarters of GST council is ___.
a) Mumbai b) New Delhi c) Ahmadabad d) Hyderabad e) Lucknow
Answer: (B).
18). Who is the chairman of GST council?
a) President of India b) Prime Minister c) Finance Minister d) RBI Governor e) Finance secretary
Answer: (C). Arun Jaitley is the current chairman of GST council
19). ___ is GST Finance Ministers Panel Chairman.
a) Amit Mishra b) Amit Malhodra c) Amit Chandresekar d) Amit Sastri e) Amit kohli
Answer: (A). Amit Mishra (West Bengal Finance Minister) is the Finance Ministers Panel Chairman.
20). ___ is the first state to ratify GST bill.
a) Andhra Pradesh b) Assam c) Arunachal Pradesh d) Bihar e) Telangana
Answer: (B)
21). ___ is the first state that passed GST Bill.
a) Andhra Pradesh b) Gujarat c) Uttar Pradesh d) Bihar e) Telangana
Answer: (E).
22). GST threshold limit of North Eastern States is ___ lakh
a) 5 b) 10 c) 12 d) 15 e) 20
Answer: (B).
23). GST threshold limit of Normal States is ___ lakh
a) 12 b) 15 c) 20 d) 25 e) 30
Answer: (C).
- GST will apply when turnover of the business exceeds Rs 20lakhs (Limit is Rs 10lakhs for the North Eastern States). [Earlier the limit was Rs 10lakhs and Rs 5lakhs for NE states.]
24). The Central Board of Excise and Customs (CBEC) announced that every year ___ will be considered as GST Day.
a) April 1 b) March 1 c) June 1 d) July 1 e) January 1
Answer: (D)
25). Smart Phones will be taxed at ___ under GST.
a) 0% b) 5% c) 12% d) 18% e) 28%
Answer: (C).
26). Under GST, Insurance is taxed ___ percent.
a) 0% b) 5% c) 12% d) 18% e) 28%
Answer: (D)
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hello mam can you please provide pdf for mcq for gst
ReplyDeletehttps://drive.google.com/file/d/0B9x0iC3XJvq8TFNwRFFjMGJrT0E/view?usp=drivesdk
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