Under GST, interstate supply of goods is subject to: MCQ with Answer and Explanation

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Under GST, interstate supply of goods is subject to:

A. UTGST only

B. CGST only

C. SGST only

D. IGST

Answer: Option D

Solution (By JKSSB Mock Tests)

Interstate supply of goods and services is subject to Integrated GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'International Finance Corporation' is a member of the:

A. World Bank Group

B. WTO

C. IMF

D. United Nations only

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Correct Answer: Option A

Explanation:
IFC is a member of the World Bank Group.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on spices is:

A. 5%

B. 18%

C. 0%

D. 12%

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Correct Answer: Option A

Explanation:
Spices generally attract 5% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

Opportunity cost is the value of:

A. all possible alternatives foregone

B. the cheapest available alternative

C. the total money spent

D. the next best alternative foregone

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Correct Answer: Option D

Explanation:
Opportunity cost is the value of the next best alternative forgone.

This question belongs to: Economy GK Economy Set 1

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