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

Question

Share Report Error

The 'Goods and Services Tax' on beauty parlour services is:

A. 5%

B. 28%

C. 12%

D. 18%

Answer: Option D

Solution (By JKSSB Mock Tests)

Beauty parlour services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

Share Report

If a 10% increase in the price of a good causes quantity demanded to fall by 5%, the price elasticity of demand is:

A. 0.5

B. 2

C. 1

D. 5

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
Elasticity = 5% / 10% = 0.5, which is inelastic.

This question belongs to: Economy GK Economy Set 1

Question #2

Share Report

The 'RBI's Annual Report' is published by:

A. National Statistical Office

B. Ministry of Finance

C. NITI Aayog

D. Reserve Bank of India

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
The RBI publishes its Annual Report.

This question belongs to: Economy GK Economy Set 1

Question #3

Share Report

The 'Production Linked Incentive' scheme aims to:

A. boost domestic manufacturing by linking incentives to incremental output

B. increase imports

C. reduce production

D. promote imports

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
PLI schemes provide incentives to boost domestic manufacturing.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs