The purpose of the study is to compare the perceived mastery of the students and the perceived competencies of teachers in the different concepts of General Chemistry. The results of the study will allow teachers to self-assess their own performance against the Competency Standards in order to identify areas of strength, as well as areas that need to be developed further for them to function more effectively as facilitators of learning. The study utilized a descriptive-comparative research as the design of the study. Questionnaires were administered to students and teachers to gather the data and were analyzed using mean, standard deviation and t test. Results revealed that the students showed a high level of mastery in almost all General Chemistry concepts except, on chemical kinetics and equilibrium, and on nuclear processes. On the other hand, faculty members need to improve their teaching competency in some areas in teaching chemistry, particularly, on nuclear processes. A difference in the perceived mastery and perceived competencies in different concepts in general chemistry among students and teachers.