GST-Goods And Services Tax ICSE Class 10 Maths MCQ/QUIZ

goods-and-services-tax-gst-maths-icse-class-x-multiple-choice-questions-quiz


This online Maths Quiz is based on chapter GST, which is in the syllabus of Class 10 ICSE Maths Chapter 1. GST or Goods and Services Tax is an indirect tax levied at the prescribed rate on every supply of goods and/or services. The Government of India has made a very important reform by introducing GST in the Indian tax system. GST has replaced all the other indirect taxes(except custom duty).
Before taking this online quiz, you must be interested in knowing the basic features of GST. The basic features of GST are given below:
(i) It is an indirect tax.
(ii) It is a value-added tax.
(iii) GST paid is an asset and not a cost incurred.
(iv) GST is fixed on particular goods and/or services across all states.

GST Application:

CGST and SGST are levied on intra-state ( within the same state) supply of goods and/or services.
IGST is levied in inter-state ( i.e. between two or more states ) supply of goods and/or services.

Types of GST

GST can be classified into three categories.
  1. CGST i.e. central goods and services tax
  2. SGST i.e. state goods and services tax
  3. IGST i.e. integrated goods and services tax

Subcategories of all GSTs


1. Input CGST: 

It is paid by the buyer on the intra-state purchase of goods and/or services. It is set off against output CGST and output IGST in that order.

2. Input SGST: 

It is paid by the buyer on the intra-state purchase of goods and/or services. It is set off against output SGST and output IGST in that order.

3. Input IGST: 

It is paid by the buyer on the inter-state purchase of goods and/or services. It is set off against output IGST, output CGST, and output SGST in that order.

4. Output CGST: 

It is collected by the seller on the intra-state sale of goods and/or services with SGST.

5. Output SGST: 

It is collected by the seller on the intra-state sale of goods and/or services with CGST.

6. Output IGST: 

It is collected by the seller on the inter-state sale of goods and/or services.

Formulas/Calculation for GST


1. Net GST collected by Government on intra-state supply of goods and/or services = ( Output CGST – Input CGST ) + ( Output SGST – Input SGST )

Note: The GST rate would be halved between CGST and SGST.

2. Net GST collected by Government on inter-state supply of goods and/or services = ( Output IGST – Input IGST )

GST ICSE Class X Maths Multiple-choice Questions/Quiz


Before attempting this online Maths quiz on GST, if you want to go through the chapter again or want to understand the concept of GST and how to solve the sums on GST maths, you can follow the link given below for video tutorial of GST ICSE class 10 maths.


Now as you are ready to attempt these multiple-choice questions from this online quiz, please go through the rules first.

Rules For The Quiz:

  • This quiz has 10 multiple-choice questions.
  • Each sum has 2 marks.
  • So the maximum marks are 20.
  • There is no time limit.
  • You should be ready with a pen and copy in your hand to solve the sums.
  • keep your Maths book away from you. This is the test of your memory. So do not take the help of the Maths book.
  • The correct answer and explanation are provided at the end of this quiz.




Do not forget to write your score in the comments section below. You can take  the quiz as many times as you want.
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9 thoughts on “GST-Goods And Services Tax ICSE Class 10 Maths MCQ/QUIZ”

  1. there is some problem with the q4 of this paper ………. plzz do look into this matter ……. otherwise the paper was quite good with conceptual questions…………liked it

    Reply

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