The 'Central Goods and Services Tax' is levied by: MCQ with Answer and Explanation

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The 'Central Goods and Services Tax' is levied by:

A. GST Council

B. local bodies

C. state governments

D. central government

Answer: Option D

Solution (By JKSSB Mock Tests)

CGST is levied by the central government on intra-state supply.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'BIMSTEC' grouping includes how many member countries?

A. 8

B. 10

C. 7

D. 5

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Correct Answer: Option C

Explanation:
BIMSTEC has 7 member countries.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'effective revenue deficit' was introduced in the budget of which year?

A. 2011-12

B. 2014-15

C. 2008-09

D. 2009-10

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Correct Answer: Option D

Explanation:
The concept of effective revenue deficit was introduced in the Union Budget 2009-10.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Finance Minister' who presented the 1991 budget and launched economic reforms was:

A. P. Chidambaram

B. Jaswant Singh

C. Manmohan Singh

D. Yashwant Sinha

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Correct Answer: Option C

Explanation:
Manmohan Singh, as Finance Minister, presented the 1991 budget that launched reforms.

This question belongs to: Economy GK Economy Set 1

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