The 'Goods and Services Tax' on imports is levied as: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on imports is levied as:

A. CGST only

B. SGST only

C. UTGST only

D. IGST plus customs duty

Answer: Option D

Solution (By JKSSB Mock Tests)

Imports attract IGST in addition to basic customs duty.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on services provided by PFRDA is:

A. 5%

B. 18%

C. exempt

D. 0%

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Correct Answer: Option C

Explanation:
PFRDA services are exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #2

Forward guidance by a central bank means:

A. regulating stock exchanges

B. communicating future policy intentions to influence expectations

C. guiding exporters

D. fixing exchange rates

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Correct Answer: Option B

Explanation:
Forward guidance is communication by a central bank about future policy intentions.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Universal Declaration of Human Rights' was adopted by the United Nations in which year?

A. 1966

B. 1945

C. 1948

D. 1950

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Correct Answer: Option C

Explanation:
The Universal Declaration of Human Rights was adopted in 1948.

This question belongs to: Economy GK Economy Set 1

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