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. 12%

B. exempt for certain theatre and circus performances

C. 18%

D. 0%

Answer: Option B

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 'automatic route' for FDI means:

A. only government companies can invest

B. only foreign individuals can invest

C. prior approval is required

D. no prior approval is required

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Correct Answer: Option D

Explanation:
Under the automatic route, FDI does not require prior government approval.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is NOT a type of unemployment based on cause?

A. Cyclical

B. Voluntary as the only cause-based type

C. Frictional

D. Structural

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Correct Answer: Option B

Explanation:
While unemployment can be voluntary or involuntary, the standard cause-based classification includes frictional, structural, cyclical and seasonal unemployment.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Code on Wages' was passed in which year?

A. 2020

B. 2021

C. 2019

D. 2017

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Correct Answer: Option C

Explanation:
The Code on Wages was passed in 2019.

This question belongs to: Economy GK Economy Set 1

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