The 'General Anti-Avoidance Rule' in India was introduced in which year? MCQ with Answer and Explanation

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The 'General Anti-Avoidance Rule' in India was introduced in which year?

A. 2010

B. 2020

C. 2018

D. 2017

Answer: Option D

Solution (By JKSSB Mock Tests)

GAAR came into effect in India in April 2017.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'International Solar Alliance' was launched at which conference?

A. BRICS Summit

B. COP21 Paris

C. WTO Ministerial

D. G20 Summit

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Correct Answer: Option B

Explanation:
The International Solar Alliance was launched at the COP21 Paris climate conference in 2015.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Gross Value Added' at basic prices excludes:

A. depreciation

B. all taxes

C. net factor income from abroad

D. indirect taxes net of subsidies

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Correct Answer: Option D

Explanation:
GVA at basic prices is measured before net product taxes, so it excludes net indirect taxes.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Finance Bill' is passed under which article of the Constitution?

A. Article 280

B. Article 324

C. Article 110

D. Article 117

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Correct Answer: Option D

Explanation:
The Finance Bill is a Money Bill passed under Article 117.

This question belongs to: Economy GK Economy Set 1

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