Q:

Goods and Services Tax likely to be levied in India is not a

A) gross value tax	B) value-added tax
C) consumption tax	D) destination-based tax

Answer & Explanation Answer: A) gross value tax

Explanation:

GST is a destination-based tax, it means end users consuming any goods or services is liable to pay the Goods and Services Tax. The tax is collected by the State in which the goods or services are consumed and not by the state in which goods are manufactured and If there are exports, the seller of the goods or services is exempted from paying the tax. GST is a consumption-based tax, it means the state where the goods were consumed will receive GST and where goods were sold should not get any taxes.GST is a value added tax as it is based on the increase in value of a product or service at each stage of production or distribution.GST is not gross value tax.

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Filed Under: Indian Economy
Exam Prep: Bank Exams

0 1197

Q:

Which of the following is a tertiary activity?

A) Farming	B) Manufacturing
C) Dairying	D) Trading

Answer & Explanation Answer: D) Trading

Explanation:

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Filed Under: Indian Economy
Exam Prep: Bank Exams

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Q:

How many Constitutional Amendments to the Constitution of India have been made so far?

A) 122	B) 121
C) 120	D) 119

Answer & Explanation Answer: A) 122

Explanation:

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Filed Under: Indian Politics
Exam Prep: Bank Exams

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Q:

Which of the following statements about the Trans-Pacific Partnership (TPP) is /are correct?

1.The TPP was signed by 12 Pacific Rim nations in the year 2015.

2.The TPP is likely to be a game-changer in global trade as member countries account for about 40 percent of global GDP.

3.India is a founder member of TPP.

Select the correct answer using the code given below.

A) 1, 2 and 3	B) 1 and 2 only
C) 2 and 3 only	D) 1 only

Answer & Explanation Answer: B) 1 and 2 only

Explanation:

3 is incorrect, as India is not a member of TPP

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Filed Under: General Awareness
Exam Prep: Bank Exams

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Q:

As per the Annual Status of Education Report (ASER) 2020, what percentage of surveyed children had access to live online classes?

A) 11	B) 16
C) 27	D) 34

Answer & Explanation Answer: A) 11

Explanation:

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Filed Under: General Awareness
Exam Prep: Bank Exams

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Q:

Which is the 1st country to recognise Pfizer-bioNtech's coronavirus vaccine?

A) Russia	B) Britain
C) Australia	D) India

Answer & Explanation Answer: B) Britain

Explanation:

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Filed Under: General Awareness
Exam Prep: Bank Exams

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Q:

The Book "Romancing Targets: Get Closer to Selling in 7 Steps" was authored by

A) Nidhi Vadhera	B) Rakesh Khurana
C) Rashmi Bansal	D) Lynda Gratton

Answer & Explanation Answer: A) Nidhi Vadhera

Explanation:

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Filed Under: Books and Authors
Exam Prep: Bank Exams

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Q:

In the following question, out of the given four alternatives, select the one which is opposite in meaning of the given word.

Adjure

A) Order	B) Require
C) Advise	D) Disclaim

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