Introduction to GST - Numerical Applications

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Q. If a person is a resident in India, what is the basic condition for determining their residential status?
  • A. Age
  • B. Income
  • C. Duration of stay
  • D. Occupation
Q. If a taxpayer's total taxable income is ₹10,00,000, what is the income tax liability for an individual below 60 years under the old tax regime?
  • A. ₹1,00,000
  • B. ₹1,50,000
  • C. ₹1,20,000
  • D. ₹1,80,000
Q. What is the GST rate applicable on the supply of most goods in India?
  • A. 5%
  • B. 12%
  • C. 18%
  • D. 28%
Q. What is the GST rate on the supply of services like restaurant food?
  • A. 5%
  • B. 12%
  • C. 18%
  • D. 28%
Q. What is the maximum limit for claiming deductions under Section 80C in a financial year?
  • A. ₹1,00,000
  • B. ₹1,50,000
  • C. ₹2,00,000
  • D. ₹50,000
Q. Which of the following deductions is available for interest on housing loan under Section 24(b)?
  • A. ₹1,50,000
  • B. ₹2,00,000
  • C. ₹1,00,000
  • D. No limit
Q. Which of the following is NOT a component of the GST structure?
  • A. CGST
  • B. SGST
  • C. IGST
  • D. VAT
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