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

Question

Share Report Error

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

A. 18%

B. zero-rated

C. 5%

D. 28%

Answer: Option B

Solution (By JKSSB Mock Tests)

Export of services is zero-rated under GST.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

The 'Periodic Labour Force Survey' provides estimates of:

A. employment and unemployment

B. GDP

C. inflation

D. foreign exchange reserves

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
PLFS provides labour force, employment and unemployment estimates.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a characteristic of 'Overconfidence' as a behavioural bias?

A. The tendency to underestimate one’s own abilities

B. Only the absence of any self-assessment

C. Perfectly calibrated confidence intervals

D. The tendency of individuals to overestimate their own knowledge, abilities or the precision of their information

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
Overconfidence manifests as excessive confidence in one’s own judgments, over-precision in probability estimates, or the better-than-average effect, and can lead to excessive trading and other suboptimal decisions.

This question belongs to: Economy GK Economy Set 1

Question #3

The term 'Demonetisation' refers to:

A. Printing of more currency notes

B. Introduction of new currency notes

C. Withdrawal of a currency unit from legal tender status

D. Devaluation of currency

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Demonetisation is the act of stripping a currency unit of its status as legal tender. In India, high denomination notes were demonetised in 2016.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs