The 'Goods and Services Tax Network' is a: MCQ with Answer and Explanation

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The 'Goods and Services Tax Network' is a:

A. ministry under government

B. regulatory authority

C. tax collection department

D. non-government IT company providing GST portal

Answer: Option D

Solution (By JKSSB Mock Tests)

GSTN is a non-government, private limited company that provides the IT infrastructure for GST.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'headline inflation' is the measure that:

A. excludes all food items

B. only includes services

C. excludes fuel

D. includes all items in the price index

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Correct Answer: Option D

Explanation:
Headline inflation includes all items in the price index.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Clean Development Mechanism' under the Kyoto Protocol allows developed countries to:

A. tax developing countries

B. earn emission reduction credits by investing in projects in developing countries

C. increase emissions

D. avoid all climate action

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Correct Answer: Option B

Explanation:
CDM allows developed countries to earn Certified Emission Reductions by financing emission reduction projects in developing countries.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on online information and database access or retrieval services is:

A. 5%

B. 28%

C. 18%

D. 12%

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Correct Answer: Option C

Explanation:
OIDAR services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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