Banking Awareness Quiz – Set 211(GST)

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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. Which of the following Live animal attracts 12% GST?
   A. Live Swine
   B. Live Sheep and Goats
   C. Live Poultry
   D. Live Horses
   E. None of these
   
   Answer & Explanation

   D. Live Horses
   Explanation:
   Live Horses – 12%; Other than Live Horses – No GST
   
   
2. How much % GST levied on Chocolates and other food preparations containing cocoa?
   A. 28%
   B. 5%
   C. 18%
   D. Nil
   E. None of these
   
   Answer & Explanation

   A. 28%
   Explanation:
   28% of GST levied on Chocolates and other food preparations containing cocoa
   
   
3. How much % GST levied on Mobile Phones?
   A. 12%
   B. 28%
   C. 5%
   D. 18%
   E. None of these
   
   Answer & Explanation

   A. 12%
   Explanation:
   12% GST levied on Mobile Phones
   
   
4. How much % GST levied on Closed-circuit television (CCTV)?
   A. 12%
   B. 28%
   C. 5%
   D. 18%
   E. None of these
   
   Answer & Explanation

   D. 18%
   Explanation:
   18% GST levied on Closed-circuit television (CCTV).
   
   
5. How much % GST levied on services by way of admission to a museum, national park, wildlife sanctuary, tiger reserve or zoo?
   A. 12%
   B. 28%
   C. 5%
   D. 18%
   E. No GST
   
   Answer & Explanation

   E. No GST
   Explanation:
   Services by way of admission to a museum, national park, wildlife sanctuary, tiger reserve or zoo – No GST
   
   
6. How much % GST levied on Erasers?
   A. 12%
   B. 28%
   C. 5%
   D. 18%
   E. No GST
   
   Answer & Explanation

   A. 12%
   Explanation:
   Erasers – 12 %
   
   
7. What is the rate applicable under GST to Services by an acquiring bank, to any person in relation to the settlement of an amount up to two thousand rupees in a single transaction transacted through credit card, debit card, charge card or other payment card service?
   A. 12%
   B. 28%
   C. 5%
   D. 18%
   E. No GST
   
   Answer & Explanation

   E. No GST
   Explanation:
   No GST –  Services by an acquiring bank, to any person in relation to the settlement of an amount up to two thousand rupees in a single transaction transacted through credit card, debit card, charge card or other payment card service
   
   
8. What is the rate applicable under GST to Services received by the Reserve Bank of India, from outside India in relation to management of foreign exchange reserves?
   A. 12%
   B. 28%
   C. 5%
   D. 18%
   E. No GST
   
   Answer & Explanation

   E. No GST
   Explanation:
   No GST – Services received by the Reserve Bank of India, from outside India in relation to management of foreign exchange reserves
   
   
9. What is the rate applicable under GST to the services by the business facilitator or a business correspondent to a banking company with respect to accounts in its rural area branch?
   A. 12%
   B. 28%
   C. 5%
   D. 18%
   E. No GST
   
   Answer & Explanation

   E. No GST
   Explanation:
   No GST – Services by the business facilitator or a business correspondent to a banking company with respect to accounts in its rural area branch
   
   
10. What is the rate applicable under GST to the services by the Reserve Bank of India.?
    A. 12%
    B. 28%
    C. 5%
    D. 18%
    E. No GST
    
    Answer & Explanation

    E. No GST
    Explanation:
    No GST – Services by the Reserve Bank of India