The 'Goods and Services Tax' Council decisions are implemented by: MCQ with Answer and Explanation

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The 'Goods and Services Tax' Council decisions are implemented by:

A. Supreme Court

B. RBI

C. central and state governments through respective GST laws

D. SEBI

Answer: Option C

Solution (By JKSSB Mock Tests)

Central and state governments implement GST Council recommendations through their GST laws.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on air travel business class is:

A. 28%

B. 12%

C. 5%

D. 18%

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Correct Answer: Option B

Explanation:
Business class air travel is 12% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

Minimum Alternate Tax is levied on companies that:

A. are foreign companies

B. are in special economic zones

C. pay very low tax due to exemptions and deductions

D. have no profit

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Correct Answer: Option C

Explanation:
MAT is imposed on companies whose normal tax liability is low because of exemptions and deductions.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Doha Round' of WTO negotiations began in which year?

A. 1999

B. 2005

C. 2010

D. 2001

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Correct Answer: Option D

Explanation:
The Doha Round was launched in 2001.

This question belongs to: Economy GK Economy Set 1

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