The 'Goods and Services Tax' revenue from SGST is credited to: MCQ with Answer and Explanation

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The 'Goods and Services Tax' revenue from SGST is credited to:

A. Consolidated Fund of the state

B. Public Account

C. Contingency Fund

D. Consolidated Fund of India

Answer: Option A

Solution (By JKSSB Mock Tests)

SGST revenue goes to the state's Consolidated Fund.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' rate on postal services is:

A. 12%

B. 0%

C. 5%

D. 18%

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Correct Answer: Option B

Explanation:
Postal services by the Department of Posts are exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on toll charges is:

A. 18%

B. exempt

C. 0%

D. 5%

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Correct Answer: Option B

Explanation:
Toll charges are exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Multilateral Investment Guarantee Agency' provides:

A. trade finance

B. political risk insurance and credit enhancement for foreign investment

C. currency exchange

D. export subsidies

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Correct Answer: Option B

Explanation:
MIGA provides political risk insurance to promote foreign direct investment.

This question belongs to: Economy GK Economy Set 1

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