The 'Goods and Services Tax' return for monthly filing by regular dealers is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' return for monthly filing by regular dealers is:

A. GSTR-4

B. GSTR-1

C. GSTR-3B

D. GSTR-9

Answer: Option C

Solution (By JKSSB Mock Tests)

GSTR-3B is a monthly summary return for regular dealers.

This question belongs to: Economy GK Economy Set 1

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The 'Mid-Day Meal Scheme' is now known as:

A. PM JAN DHAN

B. PM KISAN

C. PM AWAAS

D. PM POSHAN

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Correct Answer: Option D

Explanation:
Mid-Day Meal Scheme has been renamed PM POSHAN.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'NACH' system is used for:

A. bulk payments such as subsidies and salary credits

B. stock trading

C. cryptocurrency

D. foreign exchange trading

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Correct Answer: Option A

Explanation:
NACH is used for bulk electronic payments.

This question belongs to: Economy GK Economy Set 1

Question #3

The term 'Reverse Repo Rate' is used by the RBI to:

A. Fix the long-term interest rates only

B. Absorb excess liquidity from the banking system

C. Determine the fiscal deficit

D. Inject liquidity into the system

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Correct Answer: Option B

Explanation:
Under the reverse repo window, the RBI absorbs excess liquidity from banks by borrowing funds from them at the reverse repo rate.

This question belongs to: Economy GK Economy Set 1

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