The 'Chairperson of GST Council' is: MCQ with Answer and Explanation

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The 'Chairperson of GST Council' is:

A. Prime Minister

B. Revenue Secretary

C. Union Finance Minister

D. Finance Secretary

Answer: Option C

Solution (By JKSSB Mock Tests)

Union Finance Minister is the ex-officio chairperson of GST Council.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Question #1

The 'Financial Stability and Development Council' (FSDC) is chaired by:

A. Prime Minister

B. SEBI Chairman

C. RBI Governor

D. Union Finance Minister

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Correct Answer: Option D

Explanation:
FSDC is an apex body for financial sector stability, chaired by the Finance Minister.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2

The 'Place of Supply' rules under GST determine:

A. Whether supply is intra-state or inter-state

B. The tax rate

C. The value of supply

D. Exemption

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Correct Answer: Option A

Explanation:
Place of supply determines whether IGST or CGST+SGST applies.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #3

The 'Surcharge' on income tax is levied for:

A. High-income individuals/entities

B. All taxpayers

C. Senior citizens only

D. Companies only

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Correct Answer: Option A

Explanation:
Surcharge is additional tax on income above specified thresholds for individuals, HUFs, companies.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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