The 'National Anti-profiteering Authority' was later replaced by which body under GST? MCQ with Answer and Explanation

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The 'National Anti-profiteering Authority' was later replaced by which body under GST?

A. GST Appellate Tribunal

B. Central Board of Indirect Taxes and Customs

C. Competition Commission of India

D. GST Council

Answer: Option C

Solution (By JKSSB Mock Tests)

The NAA's functions were transferred to the Competition Commission of India.

This question belongs to: Economy GK Economy Set 1

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Question #1

In India, the estimate of National Income is usually expressed as:

A. NNP at factor cost

B. GNP at market prices

C. GDP at market prices

D. GDP at factor cost

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Correct Answer: Option A

Explanation:
National Income is conventionally defined as Net National Product at factor cost.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' rate on cinema tickets above Rs 100 is:

A. 18%

B. 12%

C. 28%

D. 5%

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Correct Answer: Option A

Explanation:
Cinema tickets above Rs 100 attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Udyam Registration' portal is used for registration of:

A. MSMEs

B. large companies

C. stock brokers

D. banks

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Correct Answer: Option A

Explanation:
Udyam Registration is the online registration portal for MSMEs.

This question belongs to: Economy GK Economy Set 1

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