Skip to main content

Translate Your Page

banking terms

By Victor S. Fischer
  ✍️ CRR Cash Reserve Ratio is the minimum fraction of total deposits of a bank’s customers that banks have to hold as reserves with the central bank. ✍️ SLR Statutory Liquidity Ratio is the ratio of liquid assets to the net demand and time liabilities. ✍️ LAF Liquid Adjustment Facility is a tool to allow banks to borrow money through repurchase agreements. It consists of repo and reverse repo operations. ✍️ MSF Marginal Standing Facility allows scheduled banks to borrow funds overnight from RBI against approved government securities. ✍️ MSS Market Stabilization Scheme is a monetary policy intervention by RBI to withdraw excess liquidity by selling government securities in the economy. ✍️ OMO Open Market Operations refers to the buying and selling of government securities in the open market so as to expand or contract the amount of money in the banking system. ✍️ REPO Repo...
Post a Comment

Question and Answers on GST

Image

Question No.1:

What kind of Taxes will GST replace?
  1. Central Excise Tax
  2. Service Tax
  3. Entertainment Tax
  4. All the types of taxes
Answer: GST will remove or replace all the types of taxes that will include Entry Tax, Luxury Tax, Purchase Tax, Octrol, Service Tax, Central Excise Tax etc on goods and services.

Question No: 2
What does G stands for in GST?
  1. General
  2. Global
  3. Goods
  4. Great
Answer: G in GST stands for Goods and Service Tax Bill

Question No: 3
What is GST officially called?
GST is also known as The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014

Question No: 4
To what percent there will be economic growth in the country with the help of GST?
The economic growth will be 1- 1.5% per year

Question No: 5 
What industries will GST benefit?
GST will benefit Trade and agriculture industry the most

Question No: 6
Will GST benefit Importers OR Exporters?
GST will benefit exporters more than importers.

Question No: 7
Which areas will be benefitted more by GST?
GST will be more advantageous to small traders and entrepreneurs

Question No: 8
Will Common Consumers be benefited from GST?
Yes, it will also be advantageous for the common customers.

Question No: 9 
What are the two types of GST? 
Central GST and State GST’

Question No: 10
What is Dual GST?
Dual GST will help in maintaining the Fiscal Federalism for both the central and state government.

Question No: 11
What type of Taxes comes under the GST?
Indirect taxes comes under the GST

Question No: 12
What is the basic need of GST to be implemented successfully?
The Revenue Fairness of Both State and Union is required.

Question No: 13
What is Threshold Exemption from GST?
It is created to keep small traders away from the tax net

Question No: 14
What will be the status of cross utilization of goods and services to be allowed under GST? 
Yes, cross utilization of goods and services to be allowed under GST

Question No: 15
What is the name of Committee organized for taking judicial measures for CGST and SGST?
Labels:
By Victor S. Fischer

Comments

Post a Comment

Popular Posts

The President of India in the Indian Constitution

By Victor S. Fischer
(1) Article 52 –  There shall be a President of India (2) Article 53 –  Executive power of the Union: The executive power shall be vested in the President and shall be exercised by him either directly or through officers’ sub-ordinate to him. (3)He is the supreme commander of the defence forces in India. (4)Though he’s only the constitutional head, or titular head, de  jure head  or nominal executive or just a symbolic head. Election of the President 1. The President shall be elected by the members of an ELECTORAL COLLEGE consisting of:       (a)The ELECTED MPs       (b)The ELECTED MLAs of the states       (c)The ELECTED MLAs of National Capital territory of Delhi (added by 70 th  Amendment Act, 1992 and with effect from 1-06-1995) and Union territory of Puducherry. 2. Thus, nominated members of parliament and legislative assemblies and membe...
Post a Comment
Show Full Post»

Brief Note on Importance of Industrial Growth in Indian Economy

By Victor S. Fischer
The Indian Government understood the importance of industries in India. The industrial policy undertaken on July 1991 by the Congress Government, have been designed to build on the past industrial achievements and to accelerate the process of making Indian industry internationally competitive, with a view to integrate the Indian economy with the world economy. The Industrial Policy of 1991 put more importance on expansion of the private sector to introduce liberalization. While our original industrial policies were characterized by state interventions and control in the industrial sector, the new industrial policy gave more emphasis on de-licensing and decentralization. However the role of the public sector in Indian economic development cannot be denied altogether. Public sector has contributed to a great extent in building the infrastructure, employment generation, capital formation, industrialization etc. in India. In spite of the important role played by the public sector enterpris...
Post a Comment
Show Full Post»

The moon : Natural Satellite of The Earth

By Victor S. Fischer
1. The moon is the satellite of the earth. It moves round the earth. It shines at night by light reflected from the sun. It looks beautiful. The bright moonlight is very soothing. The earthly objects shine like silver in the moonlight. We are fascinated objects shine like silver in the moonlight. The earthly objects shine like silver in the moonlight. We are fascinated by the enchanting beauty of the moon. 2. The moon is not as beautiful as it looks. It seems to be lovely when it shines in the sky at night. As a matter of fact it is devoid of plants animals. The moon is not suitable place for plants and animals. Therefore, no form of life can be found on the moon. Human beings cannot live on the moon. Unlike the earth, the moon has got no atmosphere. Therefore, the lunar days are very hot and the lunar nights are intensely cold. The moon looks beautiful from the earth but in fact it has a forbidding appearance. It is full of rocks and craters. When we look at the moon at night, ...
Post a Comment
Show Full Post»