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

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The 'Goods and Services Tax' refund for exporters is available through:

A. customs only

B. SEBI

C. income tax return

D. GST refund mechanism

Answer: Option D

Solution (By JKSSB Mock Tests)

Exporters can claim refunds of accumulated input tax credit under GST.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Wildlife Protection Act' was enacted in which year?

A. 1986

B. 1972

C. 1968

D. 1980

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Correct Answer: Option B

Explanation:
The Wildlife Protection Act was enacted in 1972.

This question belongs to: Economy GK Economy Set 1

Question #2

The kinked demand curve model is used to explain price rigidity in:

A. monopoly

B. monopsony

C. perfect competition

D. oligopoly

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Correct Answer: Option D

Explanation:
The kinked demand curve explains why oligopolistic firms avoid changing prices.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'circular flow of income' in a three-sector economy includes:

A. households, firms and government

B. households, firms and foreign sector

C. firms and government only

D. government and foreign sector only

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Correct Answer: Option A

Explanation:
A three-sector economy includes households, firms and government.

This question belongs to: Economy GK Economy Set 1

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