The 'GST Appellate Tribunal' is also known as: MCQ with Answer and Explanation

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The 'GST Appellate Tribunal' is also known as:

A. Goods and Services Tax Appellate Tribunal

B. GST Council

C. Central Board of Indirect Taxes and Customs

D. Competition Commission of India

Answer: Option A

Solution (By JKSSB Mock Tests)

GST Appellate Tribunal hears appeals under GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'UPI' transaction limit per transaction set by NPCI is generally:

A. Rs 10,00,000

B. Rs 10,000

C. Rs 5,00,000

D. Rs 1,00,000

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Correct Answer: Option D

Explanation:
The general UPI transaction limit is Rs 1 lakh per transaction, though it varies by bank/category.

This question belongs to: Economy GK Economy Set 1

Question #2

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Disinvestment in a public sector enterprise is classified in the government budget as:

A. revenue receipt

B. capital receipt

C. revenue expenditure

D. transfer payment

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Correct Answer: Option B

Explanation:
Disinvestment proceeds are capital receipts as they arise from sale of assets.

This question belongs to: Economy GK Economy Set 1

Question #3

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In the context of money, 'Near Money' includes:

A. Currency notes and coins only

B. Only gold reserves

C. Only demand deposits

D. Time deposits, savings deposits and other highly liquid assets

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Correct Answer: Option D

Explanation:
Near money refers to assets that are highly liquid and can be converted into cash quickly with minimal loss of value, such as time deposits and certain money market instruments.

This question belongs to: Economy GK Economy Set 1

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