The 'Goods and Services Tax' on air freight is: MCQ with Answer and Explanation

Question

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The 'Goods and Services Tax' on air freight is:

A. 28%

B. 12%

C. 5%

D. 18%

Answer: Option D

Solution (By JKSSB Mock Tests)

Air freight services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Asian Development Bank' was established in which year?

A. 1995

B. 1966

C. 1944

D. 1971

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Correct Answer: Option B

Explanation:
The Asian Development Bank was established in 1966.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is NOT a objective of economic planning in India?

A. Self-reliance

B. Economic growth

C. Maximisation of inequality

D. Modernisation

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Correct Answer: Option C

Explanation:
Economic planning in India aimed at growth, modernisation, self-reliance and social justice (reduction of inequality), not maximisation of inequality.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'International Development Association' is a part of:

A. World Bank Group

B. WTO

C. IMF

D. United Nations

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Correct Answer: Option A

Explanation:
IDA is part of the World Bank Group.

This question belongs to: Economy GK Economy Set 1

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