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

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

A. 28%

B. 12%

C. 5%

D. 18%

Answer: Option D

Solution (By JKSSB Mock Tests)

Warehousing services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Bank of England' is the central bank of:

A. France

B. Germany

C. Canada

D. United Kingdom

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Correct Answer: Option D

Explanation:
The Bank of England is the central bank of the United Kingdom.

This question belongs to: Economy GK Economy Set 1

Question #2

The value of the SDR is based on a basket of how many currencies?

A. 5

B. 4

C. 6

D. 3

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Correct Answer: Option A

Explanation:
The SDR basket consists of five currencies: US dollar, euro, Chinese yuan, Japanese yen and British pound.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a component of the capital account of India's balance of payments?

A. Software service exports

B. Remittances from abroad

C. Foreign direct investment and portfolio investment

D. Interest payments on external debt

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Correct Answer: Option C

Explanation:
Foreign direct investment and portfolio investment are capital account transactions. Software exports, remittances and interest payments form part of the current account.

This question belongs to: Economy GK Economy Set 1

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