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Taxation Quiz MCQ Practice

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1. The Goods and Services Tax (GST) was implemented in India from which date?

  1. A. 26 January 2017
  2. B. 1 July 2017
  3. C. 1 January 2018
  4. D. 1 April 2017
Answer: 1 July 2017
Explanation: 1 July 2017 — verified fact for Taxation Quiz.
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2. GST replaced a number of indirect taxes; it is a:

  1. A. A tax only on imports
  2. B. Destination-based, multi-stage indirect tax
  3. C. Direct tax on income
  4. D. A one-time wealth tax
Answer: Destination-based, multi-stage indirect tax
Explanation: Destination-based, multi-stage indirect tax — verified fact for Taxation Quiz.
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3. Income Tax in India is an example of a:

  1. A. Customs duty
  2. B. Indirect tax
  3. C. Value added tax
  4. D. Direct tax
Answer: Direct tax
Explanation: Direct tax — verified fact for Taxation Quiz.
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