ANSWER: B.Goods and Services Tax
SOLUTION : GST stands for Goods and Services Tax.

ANSWER:D.1st July 2017
SOLUTION: On July 1, 2017, GST laws were implemented, replacing a complex web of Central and State taxes. Under the Indian GST, goods and services are categorized into different tax slabs, including 5%, 12%, 18%, and 28%.

ANSWER :B.Canada
SOLUTION:The Indian GST model is based on the Canadian dual GST model.

ANSWER: D.Destination
SOLUTION: GST is based on the principle of destination-based consumption taxation as against the present principle of origin-based taxation.

ANSWER: B.4
SOLUTION:The GST was carefully crafted to keep both the burden of the common man and inflation rates in mind. The four-tier tax structure contains four separate rates: a zero rate, a lower rate, a standard rate, and a higher rate. This article is aimed at providing a brief overview of each GST rate.

ANSWER: D.14
SOLUTION: Therefore, the maximum rate prescribed under CGST is 14%.

ANSWER: A.28
SOLUTION:The tenure of the Chairman of the National Scheduled Tribes Commission is not fixed; he remains at the post till the pleasure of the president of India. But as a tradition his tenure is fixed for 3 years.

ANSWER: C.0% 5% 12% 18% 28%
SOLUTION: Currently the most common GST rates on goods in India are 0% or nil rated, 5%, 12%, 18%, and 28%. Two of the lesser common GST rates applicable to goods in India are 0.25% and 3%. In other cases, such as the GST composition scheme, slightly lower GST tax rates of 1.5%, 5% or 6% are applicable.

ANSWER:B.CGST and SGST
SOLUTION: CGST and SGST is levied @9% each on intra-state (within the state) sale and purchase and IGST is levied @ 18% on inter-state (Outside the state) sale and purchase.

ANSWER:B.Integrated
SOLUTION: To determine whether Central Goods & Services Tax (CGST), State Goods & Services Tax (SGST) or Integrated Goods & Services Tax (IGST) will be applicable in a taxable transaction. In an Inter-State transaction, a seller has to collect IGST from the buyer.