The 'GST on Education Services' provided by educational institutions is: MCQ with Answer and Explanation

Question Report Error

The 'GST on Education Services' provided by educational institutions is:

A. Exempt for specified services and institutions

B. 12%

C. 5%

D. 18%

Answer: Option A

Solution (By JKExamLibrary)

Services provided by educational institutions to students/faculty are exempt.

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

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Accountancy and Book Keeping Questions

Question #1 Report Error

The 'Test of Details' includes:

A. Ratio analysis

B. Trend analysis

C. Vouching, tracing, and inspection of documents

D. Budget comparison

View Answer & Solution Discuss

Correct Answer: Option C

Explanation:
Test of details are specific tests of transactions and balances.

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

Question #2 Report Error

The term 'Amortization' refers to:

A. Obsolescence of machinery

B. Depreciation of tangible assets

C. Depletion of natural resources

D. Systematic write-off of intangible assets

View Answer & Solution Discuss

Correct Answer: Option D

Explanation:
Amortization is the process of systematically writing off the cost of an intangible asset over its useful life.

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

Question #3 Report Error

The 'Remission of Duties and Taxes on Exported Products' (RoDTEP) scheme replaced:

A. EPCG

B. Merchandise Exports from India Scheme (MEIS)

C. Advance Authorisation

D. SEZ scheme

View Answer & Solution Discuss

Correct Answer: Option B

Explanation:
RoDTEP replaced MEIS to ensure WTO compliance, refunding embedded taxes not refunded through GST.

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

Explore All Accountancy and Book Keeping MCQs