The 'Integrated Goods and Services Tax' applies to: MCQ with Answer and Explanation

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The 'Integrated Goods and Services Tax' applies to:

A. intra-state supplies

B. imports only

C. inter-state supplies

D. exports only

Answer: Option C

Solution (By JKSSB Mock Tests)

IGST applies to inter-state supplies and imports.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Stand-Up India' scheme was launched in which year?

A. 2014

B. 2017

C. 2016

D. 2018

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Correct Answer: Option C

Explanation:
Stand-Up India was launched in 2016.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'New Development Bank' headquarters is in:

A. Moscow

B. Beijing

C. New Delhi

D. Shanghai

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Correct Answer: Option D

Explanation:
NDB headquarters is in Shanghai.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on precious stones is:

A. 0.25%

B. 12%

C. 3%

D. 5%

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Correct Answer: Option A

Explanation:
Precious stones attract 0.25% GST.

This question belongs to: Economy GK Economy Set 1

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