GST in India: Checkpoint 1

Quick checkpoint - five questions on gst in india.

Question 1 of 5 When did GST start in India?

15 August 1947 26 January 2020 1 July 2017 1 April 2000

It replaced many indirect taxes.

Question 2 of 5 Which tax applies to a sale between two states?

IGST SGST Income tax Stamp duty

IGST is shared between the Centre and the destination state.

Question 3 of 5 Who chairs the GST Council?

Chief Justice Union Finance Minister RBI Governor Prime Minister

State finance ministers are members.

Question 4 of 5 Which of these is still outside GST?

Mobile phones Petrol and diesel Clothes Soap

States rely on fuel taxes.

Question 5 of 5 What is input tax credit for?

Banning imports Increasing prices Waiving fines Avoiding tax on tax

Businesses subtract tax paid on inputs.

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