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

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

A. 12%

B. 18%

C. 5%

D. 28%

Answer: Option B

Solution (By JKSSB Mock Tests)

Consulting services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'International Solar Alliance' was launched at which conference?

A. G20 Summit

B. COP21 Paris

C. BRICS Summit

D. WTO Ministerial

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Correct Answer: Option B

Explanation:
The International Solar Alliance was launched at the COP21 Paris climate conference in 2015.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is a characteristic of the 'Universal Basic Services' proposal?

A. Only cash transfers without any public services

B. Public provision of a range of essential services free at the point of use as a complement or alternative to basic income

C. Only targeted residual welfare

D. Only private provision of all services

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Correct Answer: Option B

Explanation:
Universal basic services advocates the collective provision of a set of essential services—such as health, education, housing, transport and information—available to all citizens free or at low cost.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'snob effect' in consumer behaviour refers to:

A. buying more when price falls

B. following popular trends

C. buying only necessities

D. buying goods to appear exclusive and different

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Correct Answer: Option D

Explanation:
The snob effect is consumer preference for exclusive goods that set them apart.

This question belongs to: Economy GK Economy Set 1

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