The 'Goods and Services Tax' on aerated drinks is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on aerated drinks is:

A. 12%

B. 28% plus cess

C. 18%

D. 5%

Answer: Option B

Solution (By JKSSB Mock Tests)

Aerated drinks attract 28% GST plus compensation cess.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Which of the following is a non-tax revenue receipt of the government?

A. Dividends and profits from public sector enterprises

B. Corporation tax

C. Customs duty

D. Income tax

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Correct Answer: Option A

Explanation:
Dividends and profits from PSUs form part of non-tax revenue. Corporation tax, customs duty and income tax are tax revenues.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on yachts and aircraft is:

A. 18%

B. 5%

C. 28% plus cess

D. 12%

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Correct Answer: Option C

Explanation:
Yachts and aircraft attract 28% GST plus cess.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'ASEAN' grouping has how many member countries?

A. 14

B. 10

C. 8

D. 12

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Correct Answer: Option B

Explanation:
ASEAN has 10 member countries.

This question belongs to: Economy GK Economy Set 1

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