The 'Goods and Services Tax' on club membership fees is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on club membership fees is:

A. 0%

B. 12%

C. 18%

D. 5%

Answer: Option C

Solution (By JKSSB Mock Tests)

Club membership fees 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 characteristic of a developed financial market?

A. High transaction costs

B. Limited participation of institutions

C. Low liquidity

D. Wide range of financial instruments

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Correct Answer: Option D

Explanation:
Developed financial markets offer a wide range of instruments, high liquidity, low transaction costs and broad institutional participation.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Census of India' 2011 was the how many-th census?

A. 13th

B. 15th

C. 16th

D. 17th

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Correct Answer: Option B

Explanation:
Census 2011 was the 15th Census of India.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Gross National Disposable Income' equals GNP at market prices plus:

A. depreciation

B. indirect taxes

C. net factor income from abroad

D. net current transfers from abroad

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Correct Answer: Option D

Explanation:
Gross National Disposable Income = GNP at market prices + net current transfers from abroad.

This question belongs to: Economy GK Economy Set 1

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