Q301.Which among below is not a correct statement?
Correct answer: Pure and perfect competition are the same market structures
Q302.Value Added Tax was first introduced in India in
Correct answer: 2005
Q303.The central issue in Doha Round of talks of World Trade Organisation was
Correct answer: Export from developing countries
Q304.Which among the following are true for Central Sales Tax? 1. It is levied on interstate trade. 2. It is levied in the Union Territories. 3. It is levied in the SEZ. Select the correct answer from the codes given below.
Correct answer: Only 1 and 2
Q305.International Development Association (IDA) is managed by
Correct answer: World Bank
Q306.The objective of SEZ is
Correct answer: Promotion of Goods and Services
Q307.The International Development Association, a lending agency, is administered by the
Correct answer: International Bank of Reconstruction and Development
Q308.Which of the following taxes is levied and collected by the Union but distributed between Union and States?
Correct answer: Tax on income other than on agricultural income
Q309.Consider the following operations. 1. International Bank for Reconstruction and Development 2. International Finance Corporation 3. International Fund for Agricultural Development 4. International Monetary Fund Which of these are agencies of the United Nation?
Correct answer: 1, 2, 3 and 4
Q310.Which tax is levied and collected by the Union Government but distributed between the Union and the States?
Correct answer: Central Excise duty
Q311.Which of the following were the aims behind the setting up of the World Trade Organisation (WTO)? 1. Promotion of free trade and resources flow across countries. 2. Protection of intellectual property rights. 3. Managing balanced trade between different countries. 4. Promotion of trade between the former East Bloc countries and the Western World. Select the correct answer using the codes given below.
Correct answer: 1, 2, 3 and 4
Q312.Which one of the following statements regarding the levying, collecting and distribution of Income Tax is correct?
Correct answer: The Union levies, collects and distributes the proceeds of income tax between itself and the states
Q313.One of the important agreements reached in the 1996 Ministerial conference of WTO refers to
Correct answer: Commerce in Information Technology
Q314.The tax on Import and Export is known as
Correct answer: Custom Duty
Q315.How is the United Nations Monetary and Financial Conference wherein the agreements were signed to set-up IBRD, GATT and IMF, commonly known?
Correct answer: Bretton Woods Conference
Q316.Who had suggested an imposition of ‘expenditure tax’ in India for the first time?
Correct answer: Kaldor
Q317.The Bretton Woods Conference led to the establishment of 1. I.M.F. 2. I.B.R.D. 3. United Nations 4. W.T.O. Code
Correct answer: 1 and 2
Q318.The main source of revenue for the National Highway Authority of India is
Correct answer: Cess
Q319.On the basis of size and composition of external debt, World Bank has classified India as
Correct answer: A less indebted country
Q320.MODVAT is related to
Correct answer: Value Added Tax (VAT)
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01
General practice
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