The 'Customs duty' is levied on: MCQ with Answer and Explanation

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The 'Customs duty' is levied on:

A. imports and exports of goods

B. domestic production

C. services only

D. income of citizens

Answer: Option A

Solution (By JKSSB Mock Tests)

Customs duty is levied on imports and, in some cases, exports of goods.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on manpower supply services is:

A. 18%

B. 5%

C. 28%

D. 12%

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Correct Answer: Option A

Explanation:
Manpower supply services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Credit Information Bureau (India) Limited' is commonly known as:

A. ICRA

B. CIBIL

C. CRISIL

D. CARE

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Correct Answer: Option B

Explanation:
Credit Information Bureau (India) Limited is known as CIBIL.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'International Development Association' is a part of:

A. WTO

B. IMF

C. United Nations

D. World Bank Group

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Correct Answer: Option D

Explanation:
IDA is part of the World Bank Group.

This question belongs to: Economy GK Economy Set 1

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