The 'Goods and Services Tax' on alcohol for human consumption is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on alcohol for human consumption is:

A. 0%

B. 18%

C. not under GST

D. 5%

Answer: Option C

Solution (By JKSSB Mock Tests)

Alcoholic liquor for human consumption is outside GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is a major factor contributing to the growth of India's service sector?

A. Decline in global demand for services

B. Complete isolation from global markets

C. IT revolution, liberalisation and rising domestic demand

D. Only agricultural productivity growth

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Correct Answer: Option C

Explanation:
The rapid growth of India's services sector has been driven by the information technology boom, economic liberalisation, and expanding domestic and global demand for services.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Wildlife Protection Act' was enacted in which year?

A. 1972

B. 1980

C. 1986

D. 1968

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Correct Answer: Option A

Explanation:
The Wildlife Protection Act was enacted in 1972.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Merchandise Exports from India Scheme' was replaced by which scheme?

A. Advance Authorization

B. RoDTEP

C. EPCG

D. SEIS

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Correct Answer: Option B

Explanation:
MEIS was replaced by the Remission of Duties and Taxes on Exported Products scheme.

This question belongs to: Economy GK Economy Set 1

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