Dear Readers, Bank Exam Race for the Year 2018 is already started, To enrich your preparation here we have providing new series of Practice Questions on English language – Section. Candidates those who are preparing for Canara Bank PO Mains 2018 Exams can practice these questions daily and make your preparation effective.
[WpProQuiz 4523]Direction (1-5): The passage has been divided into several sentences, denoted by A), B), C), D), E), F) and G). Read the sentence and arrange them in a manner that the sentences make a meaningful paragraph.
A) India has five different GST rates 0, 5%, 12%, 18%, and 28%, according to the World Bank India Development Update 2018, of the 115 countries with GST regime, 40 countries use a single rate and 28 countries use two rates, India keeps rather poor company with Italy, Ghana, Pakistan, and Luxemburg countries with four or more rates.
B) As the world around us grows in complexity, there is a tendency for governments to think we need more detailed rules and systems to regulate the dynamic nature of our economy and society, counter-intuitively, the greater the complexity, the more we need simple rules to guide us through the maze of choices.
C) If one goes to the GST council website, there are a few hundred notifications, more than one for each day in existence and that is just the Central government notifications, each state has its own set of notifications.
D) As we approach the first anniversary of the goods and services tax reform, it is a good time to take stock of the problems in the system, introducing GST in India was no small feat but it has become increasingly clear that the system is too complicated and has led to a lot of confusion for taxpayers.
E) There is a constant process of raising disputes and questions, and the government trying to clarify classifications and solve problems, then there are the legal challenges in courts and this is only about the current stock of goods and services, it does not account for new products and services that will enter the market in the future.
F) A single GST for all goods and services needs no classification system. Every individual and firm simply pays the same rate, and the government and the legal system can use valuable time and resources resolving other problems.
G) The finance ministry and the GST council are asking the wrong question, the point is not how best to classify each good, but to realize the impossibility of successfully classifying each good, therefore it is best to do away with the need to classify each good.
1) Which sentence should be sixth in the paragraph?
a) D
b) C
c) A
d) F
e) B
2) Which sentence should be third in the paragraph?
a) B
b) D
c) E
d) A
e) C
3) Which sentence should be fifth in the paragraph?
a) E
b) G
c) C
d) D
e) F
4) Which sentence should be last in the paragraph?
a) E
b) D
c) B
d) A
e) F
5) Which sentence should be fourth in the paragraph?
a) E
b) F
c) D
d) C
e) B
Direction (6-10): The passage has been divided into several sentences, denoted by A), B), C), D), E), F) and G). Read the sentence and arrange them in a manner that the sentences make a meaningful paragraph
A) The GST is leading to better tax compliance, the number of unique registrations has now crossed the ten million mark, which is higher than entities registered in the pre-GST period, the increasing number of taxpayers and better compliance should help raise higher revenue in the medium to long run.
B) The GST system is creating a vast repository of data that could be useful in policymaking, for example, it is now possible to know the state-wise distribution of international exports and this information can be used to fine tune policies in particular states to boost exports.
C) Economists at the Union finance ministry studied GST data in detail and presented some interesting facts in this year’s Economic Survey, the Survey showed that India’s formal non-farm payroll is much higher than is commonly believed.
D) It is important for India to simplify the tax structure, the first target should be to move to at least a three-rate structure a lower rate for essential goods, a relatively high rate for luxury goods and a standard rate for the majority of goods and services
E) Further, the way the GST council has evolved is a notable achievement, it shows the way complex issues can be addressed through cooperation between the Union and state governments, while the council has a specific purpose perhaps the idea can be used to address policy issues in other areas.
F) It has been a year since the landmark goods and services tax, which converted India into a single market was implemented, although India opted for an extremely complex GST structure, its implementation was still a big breakthrough as problems can always be addressed with experience.
G) However, despite visible benefits, as has often been argued in these pages, the GST structure is far from optimum, the latest India Development Update of the World Bank, for example noted that the 28% rate applicable on a set of goods is the second highest among the 115 countries.
6) Which sentence should be fourth in the paragraph?
a) G
b) A
c) F
d) B
e) C
7) Which sentence should be seventh in the paragraph?
a) F
b) D
c) C
d) E
e) B
8) Which sentence should be third in the paragraph?
a) E
b) G
c) B
d) C
e) A
9) Which sentence should be fifth in the paragraph?
a) B
b) A
c) E
d) F
e) D
10) Which sentence should be sixth in the paragraph?
a) G
b) D
c) E
d) C
e) F
Answers:
Direction (1-5):
The correct order of sentence after rearrangement is DACEGFB
D) As we approach the first anniversary of the goods and services tax reform, it is a good time to take stock of the problems in the system, introducing GST in India was no small feat but it has become increasingly clear that the system is too complicated and has led to a lot of confusion for taxpayers.
A) India has five different GST rates 0, 5%, 12%, 18%, and 28%, according to the World Bank India Development Update 2018, of the 115 countries with GST regime, 40 countries use a single rate and 28 countries use two rates, India keeps rather poor company with Italy, Ghana, Pakistan, and Luxemburg countries with four or more rates.
C) If one goes to the GST council website, there are a few hundred notifications, more than one for each day in existence and that is just the Central government notifications, each state has its own set of notifications.
E) There is a constant process of raising disputes and questions, and the government trying to clarify classifications and solve problems, then there are the legal challenges in courts and this is only about the current stock of goods and services, it does not account for new products and services that will enter the market in the future.
G) The finance ministry and the GST council are asking the wrong question, the point is not how best to classify each good, but to realize the impossibility of successfully classifying each good, therefore it is best to do away with the need to classify each good.
F) A single GST for all goods and services needs no classification system. Every individual and firm simply pays the same rate, and the government and the legal system can use valuable time and resources resolving other problems.
B) As the world around us grows in complexity, there is a tendency for governments to think we need more detailed rules and systems to regulate the dynamic nature of our economy and society, counter-intuitively, the greater the complexity, the more we need simple rules to guide us through the maze of choices.
The passage is about the goods and services tax. According to the passage it has been one year since goods and services tax has been implemented so its time to look at the big picture. Introduction of GST in India was no small feat and also the system is too complex and has led to a lot doubts for taxpayers. Some blame the government for not doing a good enough job of detailing and specifying various classifications. There are nonstop dispute and that are raising while the government is trying to clarify classifications and solve problems. The major issue relies on the classification of the goods and services tax. So the government must ascertain that it is impossible to successfully divide each good, therefore it is best to do away with the need to arrange each good.
1) Answer: d)
2) Answer: e)
3) Answer: b)
4) Answer: c)
5) Answer: a)
Direction (6-10):
The correct order of sentence after rearrangement is FCABEGD
F) It has been a year since the landmark goods and services tax, which converted India into a single market was implemented, although India opted for an extremely complex GST structure, its implementation was still a big breakthrough as problems can always be addressed with experience.
C) Economists at the Union finance ministry studied GST data in detail and presented some interesting facts in this year’s Economic Survey, the Survey showed that India’s formal non-farm payroll is much higher than is commonly believed.
A) The GST is leading to better tax compliance, the number of unique registrations has now crossed the ten million mark, which is higher than entities registered in the pre-GST period, the increasing number of taxpayers and better compliance should help raise higher revenue in the medium to long run.
B) The GST system is creating a vast repository of data that could be useful in policymaking, for example, it is now possible to know the state-wise distribution of international exports and this information can be used to fine tune policies in particular states to boost exports.
E) Further, the way the GST council has evolved is a notable achievement, it shows the way complex issues can be addressed through cooperation between the Union and state governments, while the council has a specific purpose perhaps the idea can be used to address policy issues in other areas.
G) However, despite visible benefits, as has often been argued in these pages, the GST structure is far from optimum, the latest India Development Update of the World Bank, for example noted that the 28% rate applicable on a set of goods is the second highest among the 115 countries.
D) It is important for India to simplify the tax structure, the first target should be to move to at least a three-rate structure a lower rate for essential goods, a relatively high rate for luxury goods and a standard rate for the majority of goods and services
The passage is about the goods and services tax. Now that India has had the experience of running the GST system for a year, policymakers should focus on building on its successes and addressing its drawbacks to achieve its full potential. The registrations of goods and services tax has now crossed the ten million mark and it would further result in raising of higher revenue in the medium to long run. Today the GST system has become a vast repository of data. Apart from this the World Bank noted that the 28% rate is the second highest among the 115 countries. Even after the implementation is done, the council will need to continuously work on simplifying the structure to enable higher tax collection and economic growth. Also Policymakers should build on its success and address the drawbacks to ensure it achieves its full potential
6) Answer: d)
7) Answer: b)
8) Answer: e)
9) Answer: c)
10) Answer: a)
Daily Practice Test Schedule | Good Luck
| Topic | Daily Publishing Time |
| Daily News Papers & Editorials | 8.00 AM |
| Current Affairs Quiz | 9.00 AM |
| Current Affairs Quiz (Hindi) | 9.30 AM |
| IBPS Clerk Prelims – Reasoning | 10.00 AM |
| IBPS Clerk Prelims – Reasoning (Hindi) | 10.30 AM |
| IBPS Clerk Prelims – Quantitative Aptitude | 11.00 AM |
| IBPS Clerk Prelims – Quantitative Aptitude (Hindi) | 11.30 AM |
| Vocabulary (Based on The Hindu) | 12.00 PM |
| IBPS Clerk Prelims – English Language | 1.00 PM |
| SSC Practice Questions (Reasoning/Quantitative aptitude) | 2.00 PM |
| IBPS Clerk – GK Questions | 3.00 PM |
| SSC Practice Questions (English/General Knowledge) | 4.00 PM |
| Daily Current Affairs Updates | 5.00 PM |
| Canara Bank PO Mains – Reasoning | 6.00 PM |
| Canara Bank PO Mains – Quantitative Aptitude | 7.00 PM |
| Canara Bank PO Mains – English Language | 8.00 PM |
This post was last modified on August 27, 2020 7:08 pm