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. 28%

B. 5%

C. 18%

D. zero-rated

Answer: Option D

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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Question #1

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

A. 28%

B. 5%

C. 18%

D. 12%

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Correct Answer: Option C

Explanation:
Logistics services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Rs 2000 note' in India was introduced after demonetization in:

A. 2018

B. 2014

C. 2020

D. 2016

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Correct Answer: Option D

Explanation:
Rs 2000 note was introduced in November 2016 after demonetization.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a feature of the 'Data-Driven Network Effects'?

A. Network effects that are independent of data

B. The feedback loop whereby more users generate more data, which improves the service and attracts still more users

C. The absence of any feedback loops

D. Only traditional network effects without data

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Correct Answer: Option B

Explanation:
Data-driven network effects arise when additional users generate data that improve the quality of the service (e.g., through better recommendations or predictions), which in turn attracts more users, creating a self-reinforcing cycle.

This question belongs to: Economy GK Economy Set 1

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