does gk section in iift has negative marking?

Yes, IIFT exam has negative marking. Where 1/3rd of the marks will be deducted per question. Different amount of marks are allotted to each section.
Each question for Quant, Logical reasoning, Verbal ability, Reading Comprehension carries 1 mark. Other sections like DI has 0.75 marks, General awareness- 0.5 marks