The 'e-invoicing' under GST is mandatory for businesses with turnover above: MCQ with Answer and Explanation

The 'e-invoicing' under GST is mandatory for businesses with turnover above:
A. Rs 10 crore
B. Rs 5 crore
C. Rs 20 crore
D. Rs 1 crore
Answer: Option B
Solution (By JKSSB Mock Tests)
E-invoicing is mandatory for businesses above a specified turnover threshold, currently Rs 5 crore.

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Practice More Economy Set 1 Questions

Question #1
Which of the following is a feature of the mixed economy model adopted by India?
A. Coexistence of public and private sectors with government regulation
B. Absence of market mechanism
C. Complete private ownership of all means of production
D. Complete central planning without private enterprise

Correct Answer: Option A


Explanation:
India adopted a mixed economy framework where both public and private sectors coexist, with the government playing a regulatory and developmental role.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'National Apprenticeship Training Scheme' is under:
A. Ministry of Agriculture
B. Ministry of Education
C. Ministry of Finance
D. Ministry of Skill Development

Correct Answer: Option B


Explanation:
The National Apprenticeship Training Scheme is under the Ministry of Education.

This question belongs to: Economy GK Economy Set 1
Question #3
The term 'Open Market Operations' refer to:
A. Buying and selling of goods in the open market by the government
B. Buying and selling of government securities by the central bank
C. Issuing new shares by companies
D. Lending by commercial banks to the public

Correct Answer: Option B


Explanation:
Open Market Operations involve the purchase and sale of government securities by the central bank to regulate liquidity and money supply in the economy.

This question belongs to: Economy GK Economy Set 1