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

Question

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The 'Goods and Services Tax' on bread is:

A. 12%

B. 18%

C. 0%

D. 5%

Answer: Option C

Solution (By JKSSB Mock Tests)

Bread is exempt from GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'GST Suvidha Provider' is:

A. a tax official

B. an authorized private IT intermediary for GST compliance

C. a chartered accountant

D. a bank

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Correct Answer: Option B

Explanation:
GST Suvidha Providers are authorized IT intermediaries for GST compliance services.

This question belongs to: Economy GK Economy Set 1

Question #2

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Insurance Regulatory and Development Authority of India was established in which year?

A. 2008

B. 1999

C. 2003

D. 1991

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Correct Answer: Option B

Explanation:
IRDAI was established in 1999 following the IRDA Act.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'IMF' publishes which report?

A. World Economic Outlook

B. World Development Report

C. Global Competitiveness Report

D. Human Development Report

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Correct Answer: Option A

Explanation:
IMF publishes World Economic Outlook.

This question belongs to: Economy GK Economy Set 1

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