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

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The 'e-invoicing' under GST is mandatory for businesses with turnover above:

A. Rs 1 crore

B. Rs 10 crore

C. Rs 20 crore

D. Rs 5 crore

Answer: Option D

Solution (By JKSSB Mock Tests)

E-invoicing is mandatory for businesses above a specified turnover threshold, currently Rs 5 crore.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Goods and Services Tax' is applicable in:

A. only special economic zones

B. only union territories

C. all states and union territories

D. only states

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Correct Answer: Option C

Explanation:
GST applies throughout India including states and union territories.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Bali Package' of WTO was adopted in which year?

A. 2011

B. 2015

C. 2013

D. 2017

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Correct Answer: Option C

Explanation:
The Bali Package was adopted in 2013.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a characteristic of the 'New Keynesian' Phillips Curve?

A. It incorporates forward-looking expectations and sticky prices

B. It is based on adaptive expectations only

C. It denies any role for demand factors

D. It assumes continuous market clearing

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Correct Answer: Option A

Explanation:
The New Keynesian Phillips Curve is derived from models with staggered price setting and rational expectations, linking current inflation to expected future inflation and the output gap or marginal cost.

This question belongs to: Economy GK Economy Set 1

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