The 'Goods and Services Tax' on advertising services is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on advertising services is:

A. 12%

B. 5%

C. 28%

D. 18%

Answer: Option D

Solution (By JKSSB Mock Tests)

Advertising services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Udyam Registration' portal is used for registration of:

A. large companies

B. MSMEs

C. banks

D. stock brokers

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Correct Answer: Option B

Explanation:
Udyam Registration is the online registration portal for MSMEs.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' excludes which of the following from its purview?

A. Alcoholic liquor for human consumption

B. Services

C. Manufactured goods

D. Imported goods

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Correct Answer: Option A

Explanation:
Alcoholic liquor for human consumption is outside GST.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of national income, which of the following is included in GDP but not in NNP?

A. Net indirect taxes

B. Depreciation

C. Subsidies

D. Net factor income from abroad

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Correct Answer: Option B

Explanation:
GDP includes depreciation (capital consumption). NNP is obtained by subtracting depreciation from GNP. Thus depreciation is part of GDP but not of NNP.

This question belongs to: Economy GK Economy Set 1

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