The 'Goods and Services Tax' refund for exporters is available through: MCQ with Answer and Explanation

The 'Goods and Services Tax' refund for exporters is available through:
A. customs only
B. GST refund mechanism
C. SEBI
D. income tax return
Answer: Option B
Solution (By JKSSB Mock Tests)
Exporters can claim refunds of accumulated input tax credit under GST.

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Practice More Economy Set 1 Questions

Question #1
In the context of public expenditure, 'Revenue Expenditure' is characterised by:
A. No creation of assets or reduction of liability
B. Long-term capital formation
C. Creation of assets
D. Reduction of liabilities only

Correct Answer: Option A


Explanation:
Revenue expenditure is incurred for the normal running of government departments and does not result in the creation of assets or reduction of liabilities.

This question belongs to: Economy GK Economy Set 1
Question #2
Zero-based budgeting requires that:
A. only capital expenditure is budgeted
B. every expenditure item is justified from zero each year
C. deficit is zero
D. previous year's budget is the base for all allocations

Correct Answer: Option B


Explanation:
Zero-based budgeting requires all expenditures to be justified from zero each budget period.

This question belongs to: Economy GK Economy Set 1
Question #3
In the context of market structures, 'Price Discrimination' is possible under:
A. Perfect competition
B. Monopoly
C. Both perfect competition and monopoly equally
D. Only in agricultural markets

Correct Answer: Option B


Explanation:
Price discrimination (charging different prices to different consumers for the same product) is typically possible under monopoly where the firm has market power and can segment markets.

This question belongs to: Economy GK Economy Set 1