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

Question

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

A. 18%

B. 12%

C. 5%

D. 28%

Answer: Option A

Solution (By JKSSB Mock Tests)

Warehousing services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The term 'Invisible Trade' in the balance of payments includes:

A. Only foreign direct investment

B. Trade in services, income and unilateral transfers

C. Trade in merchandise goods only

D. Only capital transfers

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Correct Answer: Option B

Explanation:
Invisible trade (invisibles) comprises services (travel, transportation, software, etc.), primary income and secondary income (transfers).

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'World Intellectual Property Organization' is based in:

A. Paris

B. Vienna

C. New York

D. Geneva

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Correct Answer: Option D

Explanation:
WIPO is headquartered in Geneva.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Goods and Services Tax Network' is a:

A. regulatory authority

B. tax collection department

C. ministry under government

D. non-government IT company providing GST portal

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Correct Answer: Option D

Explanation:
GSTN is a non-government, private limited company that provides the IT infrastructure for GST.

This question belongs to: Economy GK Economy Set 1

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