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

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

A. 5%

B. 28%

C. 18%

D. 12%

Answer: Option C

Solution (By JKSSB Mock Tests)

Logistics services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is used to measure the degree of concentration in an industry?

A. Lorenz curve only

B. Herfindahl-Hirschman Index

C. Human Development Index

D. Gini coefficient only

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Correct Answer: Option B

Explanation:
The Herfindahl-Hirschman Index (HHI) is calculated as the sum of the squares of the market shares of all firms in an industry and is widely used to measure market concentration.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Contingency Fund of India' is held by:

A. RBI

B. Finance Minister

C. Prime Minister

D. President

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Correct Answer: Option D

Explanation:
The Contingency Fund of India is placed at the disposal of the President.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Foreign Trade Policy' in India is usually announced for a period of:

A. 15 years

B. 5 years

C. 1 year

D. 10 years

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Correct Answer: Option B

Explanation:
Foreign Trade Policy is normally announced for a five-year period.

This question belongs to: Economy GK Economy Set 1

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