The 'Goods and Services Tax' registration threshold for goods suppliers is generally: MCQ with Answer and Explanation

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The 'Goods and Services Tax' registration threshold for goods suppliers is generally:

A. Rs 50 lakh

B. Rs 20 lakh

C. Rs 40 lakh

D. Rs 1 crore

Answer: Option C

Solution (By JKSSB Mock Tests)

The GST threshold for goods is Rs 40 lakh (Rs 20 lakh in special category states).

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'National Income' estimates in India are prepared by:

A. National Statistical Office

B. NITI Aayog

C. RBI

D. Ministry of Statistics and Programme Implementation

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Correct Answer: Option A

Explanation:
National income estimates are prepared by the National Statistical Office.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'KUSUM' scheme aims to promote:

A. wind energy in industries

B. nuclear power

C. solar power in agriculture

D. biogas in urban areas

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Correct Answer: Option C

Explanation:
PM-KUSUM promotes solar power in agriculture including solar pumps and grid-connected solar plants.

This question belongs to: Economy GK Economy Set 1

Question #3

The term 'Stagflation' refers to a situation of:

A. Low inflation and high growth

B. Low inflation and low unemployment

C. High inflation and high growth

D. High inflation and high unemployment

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Correct Answer: Option D

Explanation:
Stagflation is a combination of stagnant economic growth (or high unemployment) along with high inflation, which challenges conventional policy responses.

This question belongs to: Economy GK Economy Set 1

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