The 'Goods and Services Tax' on circus and theatre performances is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on circus and theatre performances is:

A. 0%

B. 12%

C. 18%

D. exempt for certain theatre and circus performances

Answer: Option D

Solution (By JKSSB Mock Tests)

Certain theatre and circus performances are exempt from GST.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'National Income' estimates in India are published with a base year of:

A. 2011-12

B. 2020-21

C. 2016-17

D. 2004-05

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Correct Answer: Option A

Explanation:
The national accounts series uses 2011-12 as the base year.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of monetary policy, the 'Divine Coincidence' in basic New Keynesian models refers to:

A. The conflict between inflation and output stabilisation

B. The impossibility of stabilising either inflation or output

C. Only the stabilisation of the exchange rate

D. The fact that stabilising inflation also stabilises the output gap under certain assumptions

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Correct Answer: Option D

Explanation:
In the simplest New Keynesian model with only sticky prices and no other distortions, the optimal policy that fully stabilises inflation also closes the output gap—the so-called divine coincidence.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' collected by state governments is:

A. UTGST

B. CGST

C. IGST

D. SGST

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Correct Answer: Option D

Explanation:
State governments collect SGST.

This question belongs to: Economy GK Economy Set 1

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