Practice Test

Q1) GST Compensation Cess will be levied on ..................... of goods or services or both, including import of goods? Show Answer

Q2) GST (Compensation to States) Act, 2017 has been enacted to provide compensation to the states for loss of revenue arising on account of implementation of the GST for a period of ......................... years. Show Answer

Q3) Compensation to states under GST (Compensation to States) Act, 2017 is paid by - Show Answer

Q4) While computing compensation to states, tax revenue of this tax/ these taxes is excluded. Show Answer

Q5) Input tax credit on compensation cess paid under GST (Compensation to States) Act, 2017 Show Answer

Q6) Input tax credit under GST (Compensation to States) Act, 2017 includes GST Compensation Cess charged on any supply of - Show Answer

Q7) Input tax credit on Compensation cess paid under GST (Compensation to States) Act, 2017 is available for payment of - Show Answer

Q8) GST Compensation Cess shall not be leviable on supplies made by a taxable person who has decided to opt for. Show Answer

Q9) GST (Compensation to States) Act, 2017 is applicable to: Show Answer

Q10) Maximum rate at which GST Compensation Cess may be collected on Pan Masala- Show Answer

Q11) Maximum rate at which GST Compensation Cess may be collected on Aerated Water? Show Answer

Q12) Maximum rate at which GST Compensation Cess on Motor Cars and other Motor vehicles principally designed for the transport of persons (other than motor vehicles for transport of 10 or more persons, including the driver), including station wagons and racing cars may be collected at the rate of - Show Answer

Q13) Maximum rate at which GST Compensation Cess on Tobacco and manufactured tobacco substitutes, including tobacco products may be collected on- Show Answer

Q14) Base year revenue of North Eastern states includes the amount of .......................... . Show Answer

Q15) he Base year revenue calculated on the basis of figures of revenue collected (net of refunds) as, audited by ..................... . Show Answer

Q16) Actual revenue collected by a State in any financial year during the transition period shall be ................ as certified by C&AG. Show Answer

Q17) Total Compensation means Show Answer

Q18) Projected revenue that could have been earned by the state in absence of GST till the end of relevant 2 months period of respective financial year shall be calculated on a ....................... basis. Show Answer

Q19) If no Compensation due in next year and in case any excess amount of compensation has been released to a state in the previous year, such amount .......................... . Show Answer

Q20) The Cess on goods imported into India shall be levied and collected on a value ........................... . Show Answer

Q21) As per Section 2(g), Input tax in relation to a taxable person means, ....................... . Show Answer

Q22) Input tax credit in respect of cess on supply of goods and services shall be utilised only towards payment of ..................... . Show Answer

Q23) Proceeds of GST Compensation Cess to be credited to non-lapsable fund known as the .......................... . Show Answer

Q24) Provisions of ....................... and .....................Act shall be applicable for Intra state supplies and Inter State Supplies in relation to the levy and collection of cess leviable under Section 8 of GST (Compensation to States) Act, 2017. Show Answer

Q25) As per Section 12, ...................... shall on the recommendations of the council, by notification in the Official Gazette, make rules for carrying out the provisions of this Act. Show Answer

Q26) Order published in Official Gazette to remove any difficulties arises in giving effect to the provisions of the act shall not be made after the expiry of ....................... years from the commencement of this Act. Show Answer