The 'Goods and Services Tax' revenue from IGST is shared between: MCQ with Answer and Explanation

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The 'Goods and Services Tax' revenue from IGST is shared between:

A. local bodies

B. centre only

C. states only

D. centre and states as per GST law

Answer: Option D

Solution (By JKSSB Mock Tests)

IGST is collected by the centre and apportioned between centre and states.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'spot market' in foreign exchange deals with:

A. immediate delivery of currencies

B. future delivery of currencies

C. options only

D. futures only

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Correct Answer: Option A

Explanation:
Spot foreign exchange transactions involve immediate delivery of currencies.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Securities and Exchange Board of India' was established in 1988 but became a statutory body in:

A. 1992

B. 1995

C. 1990

D. 2000

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Correct Answer: Option A

Explanation:
SEBI became a statutory body in 1992.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a qualitative tool of monetary policy?

A. Selective credit control

B. Cash Reserve Ratio

C. Open market operations

D. Repo rate

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Correct Answer: Option A

Explanation:
Selective credit controls (such as margin requirements and credit ceilings for specific sectors) are qualitative measures aimed at directing credit flow rather than controlling its overall volume.

This question belongs to: Economy GK Economy Set 1

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