5. What is GST? How does it work?
GST is one indirect tax for the whole nation,
which will make India one unified common
market.
GST is a single tax on the supply of goods and
services, right from the manufacturer to the
consumer. Credits of input taxes paid at each
stage will be available in the subsequent stage of
value addition, which makes GST essentially a
tax only on value addition at each stage. The final
consumer will thus bear only the GST charged by
the last dealer in the supply chain, with set-off
benefits at all the previous stages.
6. What are the different types of
GST imposed?
CGST: where the revenue will be
collected by the central government
SGST: where the revenue will be
collected by the state governments for
intra-state sales
IGST: where the revenue will be
collected by the central government for
inter-state sales
7. What are the various tax slabs
under GST ?
No Tax
Tax Slab of 5%
Tax Slab of 12%
Tax Slab of 18%
Tax slab of 28%
8. Question. What are the differences
between the UPA’s GST and the NDA’s
GST?
Petroleum sector has been kept out of
the ambit of GST
Liquor for human consumption is
exempt however tobacco and tobacco
products will fall under GST.
There is a 1% tax on top of the GST for
inter-state movement of goods and
services
9. Which taxes at the
Centre and State
level are being
subsumed into GST
?
10. At the Central level, the following taxes are
being subsumed:
1) Central Excise Duty,
2) Additional Excise Duty,
3) Service Tax,
4) Additional Customs Duty commonly known
as Countervailing Duty, and
5) Special Additional Duty of Customs
11. At the State level, the following taxes are
being subsumed:
1) Subsuming of State Value Added Tax/Sales
Tax,
2) Entertainment Tax (other than the tax levied
by the local bodies), Central Sales Tax
(levied by the Centre and collected by the
States),
3) Octroi and Entry tax,
4) Purchase Tax,
5) Luxury tax, and
6) Taxes on lottery, betting and gambling.
12. What are the benefits of GST?
For business and industry
For Central and State Governments
For the consumer
13. For business and industry
Easy compliance
Uniformity of tax rates and
structures
Removal of cascading
Improved competitiveness
Gain to manufacturers and
exporters
14. For Central and State
Governments
Simple and easy to
administer
Better controls on leakage
Higher revenue efficiency
15. For the consumer
Single and transparent tax
proportionate to the value of
goods and services
Relief in overall tax burden
16. 8 Challenges That Businesses Need To
Overcome in the GST Regime.
Change in Business Software
GST Compliance
Increase in Operating Costs
Policy Change During the Middle of the Year
Online Procedure
Higher Tax Burden for Manufacturing SMEs
No Clarity on Tax Holidays
Disruption to Business
22. CULPRIT/BANKRUPT
SHOWN INDIANS THAT AIR TRAVEL ISNT COSTLY
AS GOLD.
RUNS THE BEST BEER MANUFACTURING
COMPANY
LALU YADAV “GARIB RATH” VS MALLAYA
AIRLINES
23. BRING BELONGINGS OF FATHER
OF NATION
REVOTIONISED SPIRITS
MARKETING IN INDIA
24.
25. Q1. ‘Fly the new feeling’ is the punchline of
which airlines?
A. Go Air
B. Air Asia India
C. Vistara
D. Qatar Airways
27. Q2. The punchline of this bank is ‘The name
you can bank upon’ and is endorsed by
ViratKohli. Name the bank.
A. Punjab National Bank
B. State Bank of India
C. Union Bank of India
D. IDBI Bank
31. Q4. The brands ‘Oppo,Flair,Liberty,Acer’ are
all endorsed by which of the following
celebrities?
A. HrithikRoshan
B. John Abraham
C. Sonamkapoor
D. None of these
41. Q9. ‘Gujarat Lions’ the newest IPL Team, is
owned by which of the following
companies/groups?
A.Intex Technologies
B.Sahara India
C.Adani Group
D.R.P SanjivGoenka Group
43. Q10.’Fortune Select ‘ brands of the hotels
belong to which of the following companies?
A.East India Hotels
B.Indian Hotels Limited
C.Leela Group of Hotels
D.ITC
49. Why AirAsia could not expand in
from last three years of its
operation ?
Government
civil aviation
polices
50. Motive of expansion of 20 more
aircraft
Make aviation service available for
all , domestic as well as international
Take advantage of foreign exchange
Low cost fuel
51.
52. WHO IS THE NEXT COACH ON
INDIAN CRICKET TEAM ?
India will have its next head coach. An appointment
for two years at least, it is expected to calm things
down in the Indian dressing room and get the team on
course for the 2019 World Cup and the away series
against Sri Lanka and South Africa later in the year.
The six candidates to be interviewed are Shastri.
Sehwag, Moody, Simons, Pybus and Rajput.
Cricket is a sport driven by the captain. Whatever
BCCI decides at the SGM, it will be ultimately by the
Supreme Court of India that will have a final say on
this matter. The countdown has started and in few
days will determine the direction in which the Indian
Cricket will move in the immediate future.
53.
54. 1. Who has been honoured with the 'Sportsman
Of The Year' award at the 2017 Laureus World
Awards?
(a) Usain Bolt
(b) Virat Kohli
(c) Tyson Gay
(d) Maurice Greene
56.
2. At the 2016 Copa America tournament, which
player won the Golden Ball award for the best
goalkeeper?
(a) G. Buffon
(b) Manuel Neuer
(c) Claudio Bravo
(d) Sergio Romero
58. 3. Which Indian cricketer has been inducted into
Legends Club "Hall Of Fame"?
(a) Sunil Gavaskar
(b) Kapil Dev
(c) Virat Kohli
(d) AjitWadekar
62. 5. At the 2016 Copa America tournament, which
player won the Golden Ball award for the best
footballer?
(a) Alexis Sanchez
(b) Lionel Messi
(c) Cristiano Ronaldo
(d) Neymar
65. Make in India
is an initiative launched by the Government of
India to encourage national, as well as multi-
national companies to manufacture their products
in India. It was launched by Prime
Minister Narendra Modi on 25 September 2014.
India emerged, after initiation of the programme
in 2015, as the top destination globally for foreign
direct investment (FDI), surpassing the United
States of America as well as the People's
Republic of China. In 2015, India received US$63
billion in FDI.
67. Digitizing the work of Indian
Craftsmen
The online marketplace Shopclues hailed the
‘Make In India’ initiative by getting over 500
merchants on board from all over the country. The
company intends to highlight the work of Indian
Craftsmen by displaying their products on a larger
platform. It is also working with government
bodies to encourage local craftsmen and traders
and help them participate in this ecommerce
revolution
68. A personal coach for your fitness
goals
Wearable fitness band Goqii has achieved huge
success in recent months. Founded by Vishal
Gondal, the startup has recently secured funds
worth $ 13.2 million from Ratan Tata. Also,
according to the market research firm recent IDC
report on Q2, the fitness device grabbed the top
position in India’s wearable market by gaining
16.1 per cent shares. There is also an interesting
observation that this Indian brand defeated the
Chinese company Xiaomi, with other companies
like Fitbit, Garmin and Huawei following them in
top five.
69. Meeting the challenges of
warehouse automation space
Grey Orange Robotics, the Gurgaon-based
company aims at providing robots to the growing
retail, consumer goods, logistics and eCommerce
sector from all over the world. The multinational
robotics firm supply robots to warehouses to help
them meet the challenges of warehouse
automation space. Founded in 2011 by Samay
Kohli and Akash Gupta, the startup has raised a
Series A from Tiger Global and Blume Ventures.
The company has already started its international
expansion in bigger names like Japan, China and
South Asia.
70. A smart way to message
Hike messenger was developed by Bharti
Softbank in 2012 to introduce free text messaging
anywhere in India. The app recently raised $ 175
million in a series D funding led by Foxconn and
Tencent. Today ,the company has raised over $
250 million.The messaging app has already
introduced four international languages to
increase its global audience and fight with the
biggest competitor Whatsapp. The app is trying to
make an impact on Indian users by introducing
more and more Indian features.
71. Electrifying your ride
Ather Energy Private Limited, a Bengaluru-based
smart electric two wheeler startup developed its
first product, Ather S340 in Feb this year. The
company founded by IIT- M Alumini Duo Tarun
Mehta and Swapnil Jain raised $ 12 million from
Tiger global and $1 million from Flipkart founders.
The vehicle has a touch screen dashboard to
offer various features like navigation, driving
modes and user profile based sign in. The user
profile will analyse the riding habits and give
suggestions for better riding experience.
72.
73. What is G20 Summit?
The G20 is a powerful
international forum that gathers
world leaders and bankers from
the top 20 of the world’s most
successful and emerging
economies.
74. Apart from the usual, recurring themes “relating to
global economic growth, international
trade and financial market regulation” the G20
Hamburg summit was expected to focus on the
following “issues of global significance”:
More inclusive growth
Implementation of the 2030 Agenda for
Sustainable Development
Women's Economic Empowerment
Women Entrepreneurs Finance Initiative
75. Where was it held? When?
The 2017 G20 Hamburg
summit was
the twelfth meeting of
the Group of Twenty (G20)
which was held on 7–8 July
2017, at Hamburg Messe, in
the city
of Hamburg, Germany.
76. Mechanism of G20:
It comprises total 19 countries plus the European
Union (EU), representing 85% of global GDP,
80% of international trade, 65% of world’s
population.
The group has no formal organisational structure
but is rather an informal forum with no permanent
secretariat.
It has a rotational presidency that is responsible
for setting the agenda every year and organising
all of the meetings and events.
Additionally, each year the G20 president invites
six guest countries, to increase its “engagement
with the international community.”
77. How does the G20 differ from the G8?
The Group of Eight (G8), established as the G7 in
1976 but renamed after the admission of Russia
in 1998, is an international forum for the eight
major industrial economies. It comprises:
Canada, France, Germany, Italy, Japan, Russia,
the United Kingdom and the United States.
However since 2014 Russian membership has
been suspended following the country’s
annexation of Crimea.
The G8 seeks cooperation on economic issues
facing the major industrial economies, while the
G20 reflects the wider interests of both developed
and emerging economies.
78. India’s move towards G20:
Responding to Prime Minister Narendra
Modi’s call for united action against
terrorism and elimination of
terrorist safe havens, the G20
countries strongly condemned all
terrorist attacks worldwide and pledged
greater coordination to counter the
menace. Earlier Prime Minister Modi in
the G20 Summit had called for a
concerted global crackdown against
countries that support terrorism for their
80. Who has won the 2017 Man Booker International
Prize?
[A] Ian Samson
[B] David Grossman
[C] Roy Jacobsen
[D] Amos Oz
81. Correct Answer: B [David Grossman]
Answer Explanation:
David Grossman has become the first Israeli author to
win the 2017 Man Booker International prize for his
novel “A Horse Walks Into a Bar”. The novel was
translated by Jessica Cohen and is published in
Britain by Jonathan Cape. The book is an ambitious
high-wire act of a novel that shines a spotlight on the
effects of grief, without any hint of sentimentality.
Since 2016, the Man Booker International Prize
awards both the winning author and translator
£25,000. To be considered for the prize, books had to
be translated into English and published in the UK
between May 1, 2016 and April 30, 2017.
82. .What is the theme of 2017 World Oceans Day
(WOD)?
[A] Protect your Ocean
[B] Healthy Oceans, Healthy Planet
[C] Our Oceans, Our Future
[D] Youth: the Next Wave for Change
83. Correct Answer: C [Our Oceans, Our Future]
Answer Explanation:
The World Oceans Day (WOD) is observed every
year on June 8 to raise global awareness of the
benefits derived from the oceans and the current
challenges faced by the international community in
connection with the oceans. This year, in 2017, the
main conservation focus will be on plastic pollution
prevention and cleaning the ocean of marine litter with
theme “Our Oceans, Our Future”. The 2017 WOD has
coincided with the first-ever United Nations World
Oceans Conference taking place from 5 to 9 June at
UN headquarters in New York. The purpose of the
conference is to mobilize action for the conservation
and sustainable use of the oceans, seas and marine
resources.
84. 1.Who has been sworn in as the new Chief Justice
of India?
A. JS Khehar
B. Madan Lokur
C. Kamlesh Khehar
D. T S Patil
88. 3.Which Indian based woman has ranked in
Fortune 51 Powerful Women rankings released
by Fortune in 2016?
A. Mary Barra
B. Indira Nooyi
C. Ginni Rometty
D. Arundhati Bhattacharya
90. 4.Who has been appointed as the new Chief
Executive Officer of Flipkart?
A. Sanjeev Mohanty
B. Kalyan Krishnamurthy
C. Kunal Bahl
D. Sanjeev Agarwal
