The 'Goods and Services Tax' on inter-state supply is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on inter-state supply is:

A. UTGST

B. SGST

C. CGST

D. IGST

Answer: Option D

Solution (By JKSSB Mock Tests)

Inter-state supplies attract IGST.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'World Trade Organization' is headquartered in:

A. Geneva

B. Paris

C. Washington D.C.

D. New York

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Correct Answer: Option A

Explanation:
The World Trade Organization is headquartered in Geneva, Switzerland.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Asian Development Bank' was established in which year?

A. 1971

B. 1966

C. 1944

D. 1995

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Correct Answer: Option B

Explanation:
The Asian Development Bank was established in 1966.

This question belongs to: Economy GK Economy Set 1

Question #3

The term 'Most Favoured Nation' treatment under WTO implies:

A. Non-discriminatory treatment among all member countries

B. Preferential treatment to one country at the expense of others

C. Higher tariffs for all members

D. Complete free trade without any rules

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Correct Answer: Option A

Explanation:
The MFN principle requires that any trade advantage granted to one WTO member must be extended to all other members, ensuring non-discrimination.

This question belongs to: Economy GK Economy Set 1

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