The 'Goods and Services Tax' Council has how many members? MCQ with Answer and Explanation

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The 'Goods and Services Tax' Council has how many members?

A. 33

B. 50

C. 100

D. 20

Answer: Option A

Solution (By JKSSB Mock Tests)

GST Council has 33 members, including the Chairperson.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on intra-state supply comprises:

A. CGST and SGST/UTGST

B. CGST only

C. SGST only

D. IGST

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Correct Answer: Option A

Explanation:
Intra-state supplies attract both CGST and SGST/UTGST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'withdrawal' from the circular flow in a three-sector economy includes:

A. investment

B. government expenditure

C. exports

D. taxes and saving

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Correct Answer: Option D

Explanation:
In a three-sector economy, withdrawals include saving and taxes.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is NOT a maturity period for Treasury bills in India?

A. 91 days

B. 182 days

C. 730 days

D. 364 days

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Correct Answer: Option C

Explanation:
Treasury bills in India are issued for 91, 182 and 364 days.

This question belongs to: Economy GK Economy Set 1

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