The 'Goods and Services Tax' collected by state governments is: MCQ with Answer and Explanation

Question

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The 'Goods and Services Tax' collected by state governments is:

A. CGST

B. UTGST

C. SGST

D. IGST

Answer: Option C

Solution (By JKSSB Mock Tests)

State governments collect SGST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The Rostow stages of growth model lists which of the following as the first stage?

A. Drive to maturity

B. Traditional society

C. Age of high mass consumption

D. Take-off

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Correct Answer: Option B

Explanation:
Rostow's first stage is traditional society, followed by preconditions for take-off, take-off, etc.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Goods and Services Tax' is an indirect tax because:

A. it is paid by the seller only

B. the burden can be shifted to the final consumer

C. it is paid by the government

D. it is paid only by companies

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Correct Answer: Option B

Explanation:
GST is an indirect tax as the burden is ultimately borne by the final consumer.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Environment Protection Act' was enacted in which year?

A. 1991

B. 1997

C. 1986

D. 1980

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Correct Answer: Option C

Explanation:
The Environment Protection Act was enacted in 1986.

This question belongs to: Economy GK Economy Set 1

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