The 'Goods and Services Tax' exemption limit for registration of service providers is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' exemption limit for registration of service providers is:

A. Rs 10 lakh

B. Rs 50 lakh

C. Rs 20 lakh

D. Rs 40 lakh

Answer: Option C

Solution (By JKSSB Mock Tests)

General GST registration threshold for services is Rs 20 lakh (Rs 10 lakh in special category states).

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Asian Infrastructure Investment Bank' was established in which year?

A. 2015

B. 2013

C. 2017

D. 2016

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Correct Answer: Option A

Explanation:
AIIB was established in 2015.

This question belongs to: Economy GK Economy Set 1

Question #2

The term 'Green Field Investment' refers to:

A. Setting up of new production facilities from scratch

B. Mergers and acquisitions only

C. Investment in existing companies through stock markets

D. Portfolio investment in bonds

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Correct Answer: Option A

Explanation:
Greenfield investment is a form of foreign direct investment where a parent company establishes new operations and facilities in a foreign country from the ground up.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Dynamic Inconsistency' is most relevant for:

A. Only labour market policy

B. Only fiscal policy

C. The design of monetary policy rules versus discretion

D. Only trade policy

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Correct Answer: Option C

Explanation:
Dynamic (or time) inconsistency problems are central to the debate on rules versus discretion in monetary policy, because policymakers may have an incentive to deviate from previously announced optimal policies.

This question belongs to: Economy GK Economy Set 1

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