The 'Central Board of Direct Taxes' administers: MCQ with Answer and Explanation

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The 'Central Board of Direct Taxes' administers:

A. GST

B. excise duty

C. customs duty

D. income tax and corporate tax

Answer: Option D

Solution (By JKSSB Mock Tests)

CBDT administers direct taxes like income tax and corporate tax.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' rate on e-books is:

A. 5%

B. 12%

C. 0%

D. 18%

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Correct Answer: Option A

Explanation:
E-books attract 5% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on intellectual property rights services is:

A. 5%

B. 18%

C. 28%

D. 12%

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Correct Answer: Option B

Explanation:
IPR services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' rate on readymade garments above Rs 1,000 is:

A. 12%

B. 18%

C. 5%

D. 28%

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Correct Answer: Option A

Explanation:
Readymade garments above Rs 1,000 attract 12% GST.

This question belongs to: Economy GK Economy Set 1

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