The 'good and services tax' on petroleum crude, diesel, petrol, natural gas and aviation turbine fuel: MCQ with Answer and Explanation

Question

Share Report Error

The 'good and services tax' on petroleum crude, diesel, petrol, natural gas and aviation turbine fuel:

A. is presently outside GST

B. has been fully included

C. is exempt

D. is levied at zero rate

Answer: Option A

Solution (By JKSSB Mock Tests)

These petroleum products are currently outside the GST regime.

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

Under GST, interstate supply of goods is subject to:

A. CGST only

B. IGST

C. UTGST only

D. SGST only

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
Interstate supply of goods and services is subject to Integrated GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Evergreen Revolution' concept is associated with:

A. sustainable agriculture with high productivity

B. reducing crop diversity

C. increasing fertilizer use

D. only organic farming

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
Evergreen Revolution refers to sustainable agriculture while maintaining high productivity.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Reserve Bank of India' was nationalized on:

A. 26 January 1950

B. 1 January 1947

C. 15 August 1947

D. 1 January 1949

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
The RBI was nationalized on 1 January 1949.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs