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

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

A. 12%

B. 28%

C. 18%

D. 5%

Answer: Option C

Solution (By JKSSB Mock Tests)

Broadcasting services attract 18% 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 feature of the 'Purchasing Power Parity' theory in its absolute form?

A. The exchange rate equals the interest differential

B. Only relative changes in prices matter

C. Exchange rates are determined only by trade balances

D. The exchange rate between two currencies equals the ratio of the countries’ price levels

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Correct Answer: Option D

Explanation:
Absolute purchasing power parity states that the nominal exchange rate should equal the ratio of the domestic to the foreign price level so that a basket of goods costs the same in both countries.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Goods and Services Tax' was launched in India on which date?

A. 1 July 2017

B. 1 April 2017

C. 15 August 2017

D. 1 January 2017

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Correct Answer: Option A

Explanation:
GST was launched on 1 July 2017.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'euro' currency was introduced as an accounting currency in which year?

A. 1999

B. 2002

C. 1992

D. 2005

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Correct Answer: Option A

Explanation:
The euro was introduced in bookkeeping form in 1999, with physical notes and coins in 2002.

This question belongs to: Economy GK Economy Set 1

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