The 'Goods and Services Tax' on export of services is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on export of services is:

A. 18%

B. 5%

C. zero-rated

D. 28%

Answer: Option C

Solution (By JKSSB Mock Tests)

Export of services is zero-rated under GST.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Unified Payments Interface' was launched in which year?

A. 2017

B. 2016

C. 2014

D. 2018

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Correct Answer: Option B

Explanation:
UPI was launched in April 2016.

This question belongs to: Economy GK Economy Set 1

Question #2

NSDL and CDSL are depositories for:

A. dematerialized securities

B. government cash balances

C. foreign exchange reserves

D. bank deposits

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Correct Answer: Option A

Explanation:
NSDL and CDSL are the two depositories that hold securities in dematerialized form.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on insurance services is:

A. 18%

B. 5%

C. 12%

D. 28%

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Correct Answer: Option A

Explanation:
Insurance services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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