The 'Central Goods and Services Tax Act' was passed in which year? MCQ with Answer and Explanation

Question

Share Report Error

The 'Central Goods and Services Tax Act' was passed in which year?

A. 2016

B. 2015

C. 2017

D. 2018

Answer: Option C

Solution (By JKSSB Mock Tests)

CGST Act was passed in 2017.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

Share Report

Which of the following is a characteristic of the 'Learning-by-Doing' models of growth?

A. Experience has no effect on productivity

B. Productivity rises as a by-product of cumulative production experience

C. Productivity is completely exogenous

D. Only formal R&D matters

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
Learning-by-doing models, originating with Arrow, treat increases in productivity as an automatic by-product of the accumulation of production experience (cumulative output).

This question belongs to: Economy GK Economy Set 1

Question #2

Share Report

The 'Wholesale Price Index' measures:

A. prices of consumer goods only

B. retail prices

C. prices of services

D. prices at the wholesale level

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
WPI measures price changes at the wholesale level.

This question belongs to: Economy GK Economy Set 1

Question #3

Share Report

The 'Goods and Services Tax' on salt is:

A. 0%

B. 12%

C. 5%

D. 18%

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
Common salt is exempt from GST.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs