The 'GST Suvidha Provider' is: MCQ with Answer and Explanation

Question

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The 'GST Suvidha Provider' is:

A. a bank

B. a tax official

C. an authorized private IT intermediary for GST compliance

D. a chartered accountant

Answer: Option C

Solution (By JKSSB Mock Tests)

GST Suvidha Providers are authorized IT intermediaries for GST compliance services.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The Energy Crisis in India is often measured in terms of:

A. peak demand deficit and energy deficit

B. forest cover

C. agricultural output

D. fiscal deficit

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Correct Answer: Option A

Explanation:
The power sector deficit is measured by the gap between peak demand and availability.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Goods and Services Tax' law in India comprises:

A. only CGST Act

B. only IGST Act

C. one Act

D. CGST Act, SGST Acts, UTGST Act and IGST Act

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Correct Answer: Option D

Explanation:
GST law comprises CGST, SGST, UTGST and IGST Acts.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is a characteristic of the 'Circular Economy' concept?

A. A linear take-make-dispose model

B. Only the maximisation of resource extraction

C. Only the maximisation of consumption without regard to waste

D. An economic system aimed at eliminating waste and the continual use of resources through reuse, repair, remanufacturing and recycling

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Correct Answer: Option D

Explanation:
The circular economy seeks to keep products, materials and resources in use for as long as possible, extracting maximum value and then recovering and regenerating them at the end of their service life.

This question belongs to: Economy GK Economy Set 1

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