The 'Goods and Services Tax' is considered a destination-based tax because: MCQ with Answer and Explanation

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The 'Goods and Services Tax' is considered a destination-based tax because:

A. tax is collected where goods are produced

B. tax is collected only at the port

C. tax accrues to the state where goods are consumed

D. tax is paid by the exporter

Answer: Option C

Solution (By JKSSB Mock Tests)

GST is destination-based, so tax revenue goes to the consuming state.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'National Curriculum Framework for Foundational Stage' was introduced as part of:

A. Skill India

B. Make in India

C. Digital India

D. National Education Policy 2020

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Correct Answer: Option D

Explanation:
NCF-FS is part of the implementation of NEP 2020.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Reserve Bank of India' is headquartered in:

A. Kolkata

B. New Delhi

C. Chennai

D. Mumbai

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Correct Answer: Option D

Explanation:
The RBI headquarters is in Mumbai.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on banking services to government is:

A. 12%

B. 0%

C. 18%

D. 5%

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Correct Answer: Option C

Explanation:
Banking services to government attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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