Banking Awareness Quiz – Set 188

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Welcome to Banking Awareness Quiz in AffairsCloud.com. Here we are creating quiz covering important questions which are common for all the bank exams and other competitive exams.

1. GST was introduced as The Constitution ________ Amendment Act 2016
   A. 122
   B. 114
   C. 101
   D. 118
   E. None of these
   
   Answer & Explanation

   C. 101
   Explanation:
   GST was introduced as The Constitution 101 Amendment Act 2016
   
   
2. As per ______ of the amended Constitution, the GST Council will be a joint forum of the Centre and the States.
   A. Article 276A
   B. Article 279A
   C. Article 280A
   D. Article 289A
   E. None of these
   
   Answer & Explanation

   B. Article 279A
   Explanation:
   As per Article 279A of the amended Constitution, the GST Council will be a joint forum of the Centre and the States.
   
   
3. The Headquarters of GST Council Secretariat is located in __________
   A. Mumbai
   B. Kolkata
   C. Chennai
   D. New Delhi
   E. None of these
   
   Answer & Explanation

   D. New Delhi
   Explanation:
   The Headquarters of GST Council Secretariat is located in New Delhi.
   
   
4. Chairman of GST committee of state finance ministers is ______
   A. Amit Mitra
   B. Himanta Biswa
   C. Thomas Issac
   D. Abdul Bari Siddiqui
   E. None of these
   
   Answer & Explanation

   A. Amit Mitra
   Explanation:
   Chairman of GST committee of state finance ministers is Amit Mitra.
   
   
5. Ex-officio Secretary to the GST Council is ______
   A. Union Finance Minister
   B. State Finance Minister
   C. Finance Secretary
   D. Revenue Secretary
   E. None of these
   
   Answer & Explanation

   D. Revenue Secretary
   Explanation:
   Ex-officio Secretary to the GST Council is Revenue Secretary
   
   
6. Who among the following is a permanent invitee(non-voting) to all proceedings of the GST Council?
   A. Chairperson, Central Board of Excise and Customs (CBEC)
   B. Union Finance Minister
   C. Finance Secretary
   D. Revenue Secretary
   E. None of these
   
   Answer & Explanation

   A. Chairperson, Central Board of Excise and Customs (CBEC)
   Explanation:
   Chairperson, Central Board of Excise and Customs (CBEC) is a permanent invitee(non-voting) to all proceedings of the GST Council
   
   
7. GST threshold limit for the North Eastern States is ______
   A. 10 lakh
   B. 5 lakh
   C. 15 lakh
   D. 20 lakh
   E. All of these
   
   Answer & Explanation

   A. 10 lakh
   Explanation:
   GST threshold limit for the North Eastern States is 10 lakh.
   
   
8. GST threshold limit for other than the North Eastern States is ______
   A. 10 lakh
   B. 5 lakh
   C. 15 lakh
   D. 20 lakh
   E. All of these
   
   Answer & Explanation

   D. 20 lakh
   Explanation:
   GST threshold limit for other than the North Eastern States is Rs.20 lakh
   
   
9. T in GSTN stands for ______
   A. Tax
   B. Trade
   C. Transaction
   D. Term
   E. None of these
   
   Answer & Explanation

   A. Tax
   Explanation:
   T in GSTN stands for Tax.
   
   
10. GST Council fixes _____ tax slab for services.
    A. 5-tier
    B. 4-tier
    C. 3-tier
    D. 2-tier
    E. None of these
    
    Answer & Explanation

    B. 4-tier
    Explanation:
    GST Council fixes 4 tier tax slab for services.