Daily Five Jul 04 2017

Daily Five Jul 04 2017


Date: 04/07/2017
1. Tips/Tricks
2. Prelims Questions
3. QuickBytes
4. RAG topics
5. Mains Questions
All the below notes will also be updated in the ARISE IAS RAG List for systematic revision.
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1. Tips/Tricks

How to do better in your exams: Drinking a glass of water can boost your results by a grade

Read more: http://www.dailymail.co.uk/sciencetech/article-2131276/How-better-exams-Drinking-glass-water-boost-results-grade.html#ixzz4lssk8K9L


2. Prelims Questions

1. Which of the following tax is not subsumed by GST
a. Countervailing Duty
b. Central Sales Tax
c. Basic Customs Duty
d. Special Additional Duty

2. Which of the following goods are not kept under nil or 0% GST rate?
a. Newspaper
b. Hearing Aid
c. Raw Silk
d. None
Ans:
1. C
As per the Model GST Law, GST will subsume Countervailing Duty (CVD) and Special Additional Duty (SAD), however, Basic Customs Duty will continue to do its round in the import bills.

2. D
https://cleartax.in/s/exemptions-gst-goods


3. QuickBytes (Use these quotes/figures/facts in your Mains Exam)

Your reaction if you are frequently being transferred for being too honest:
“Kisi chirag ka apnamakannahinhota. Jahan bhijayega, roshnilutayega,” (the lamp does not have its own home. It will spread its light wherever it goes)


4.  RAG topics

1. GST by Varuna
https://drive.google.com/open?id=0B2R8MqzmuRrpcEhZYWdRS1hDSkE
2. Financial inclusion by Anurag
https://drive.google.com/open?id=0B2R8MqzmuRrpRkxtWGdCWFVqSEU


5. Today’s Mains Questions

1. GST is one indirect tax for the whole nation, which will make India one unified common market. Elaborate
2. Mobile networks is one of the key tools for financial inclusion. Explain

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