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

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The 'Goods and Services Tax' on coal is:

A. 12%

B. 18%

C. 5%

D. 5% with input tax credit

Answer: Option C

Solution (By JKSSB Mock Tests)

Coal attracts 5% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'National Action Plan on Climate Change' was released in:

A. 2015

B. 2010

C. 2008

D. 2005

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Correct Answer: Option C

Explanation:
The National Action Plan on Climate Change was released in 2008.

This question belongs to: Economy GK Economy Set 1

Question #2

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The Banking Ombudsman is appointed by:

A. Reserve Bank of India

B. Finance Minister

C. President

D. Indian Banks' Association

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Correct Answer: Option A

Explanation:
The RBI appoints Banking Ombudsmen to resolve customer complaints against banks.

This question belongs to: Economy GK Economy Set 1

Question #3

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In the context of public debt, 'Internal Debt' refers to:

A. Only short-term external borrowings

B. Debt owed to domestic creditors

C. Debt owed to foreign creditors

D. Only IMF loans

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Correct Answer: Option B

Explanation:
Internal debt is the portion of public debt that is owed to lenders within the country, such as market borrowings, treasury bills and other domestic liabilities.

This question belongs to: Economy GK Economy Set 1

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