Taxation – GST Basics, Income Tax Computation (Applied Maths)

Grade 11 Maths — Taxation – GST Basics, Income Tax Computation (Applied Maths): 25 practice questions with instant scoring and explanations.

1. GST stands for:
2. The basic principle of GST is:
3. CGST refers to:
4. SGST refers to:
5. IGST refers to:
6. GST is levied on:
7. If CGST rate is 9% and SGST rate is 9%, then total GST rate = :
8. Input Tax Credit (ITC) means:
9. GST on goods = :
10. If base price is 1000 and GST rate is 18%, total price = :
11. Income tax is charged on:
12. Taxable Income = :
13. Tax Liability = :
14. Section 80C allows deduction up to:
15. HRA (House Rent Allowance) is allowed as deduction:
16. Standard Deduction is applicable on:
17. The current standard deduction on salary is:
18. Progressive taxation means:
19. Tax Slab is:
20. Rebate under Section 87A is for:
21. Tax evasion is:
22. Tax avoidance means:
23. If taxable income is 3 lakh and slab rate is 5%, tax = :
24. GST registration is mandatory for business if turnover exceeds:
25. Under GST, a zero-rated supply means: