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

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

A. 5%

B. 12%

C. 28%

D. 18%

Answer: Option D

Solution (By JKSSB Mock Tests)

Airport services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Goods and Services Tax' rate on cinema tickets below Rs 100 is:

A. 12%

B. 18%

C. 5%

D. 28%

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Correct Answer: Option A

Explanation:
Cinema tickets up to Rs 100 attract 12% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

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In the context of elasticity, if income elasticity of demand for a good is negative, the good is:

A. Luxury good

B. Necessary good

C. Normal good

D. Inferior good

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Correct Answer: Option D

Explanation:
A negative income elasticity of demand indicates that the good is inferior; demand for it falls as income rises.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Jal Jeevan Mission' aims to provide tap water to rural households by:

A. 2030

B. 2025

C. 2022

D. 2024

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Correct Answer: Option D

Explanation:
Jal Jeevan Mission aims to provide tap water to all rural households by 2024.

This question belongs to: Economy GK Economy Set 1

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