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

Question

Share Report Error

The 'Goods and Services Tax' on edible oils is:

A. 5%

B. 0%

C. 18%

D. 12%

Answer: Option A

Solution (By JKSSB Mock Tests)

Edible oils attract 5% GST.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

Share Report

Which of the following was NOT part of the 1991 economic reforms?

A. Nationalization of commercial banks

B. Reduction of import tariffs

C. Opening up to foreign investment

D. Abolition of industrial licensing for most industries

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
Nationalization of commercial banks was done earlier in 1969 and 1980, not in the 1991 reforms.

This question belongs to: Economy GK Economy Set 1

Question #2

Share Report

The 'Sensex' comprises how many actively traded stocks of BSE?

A. 30

B. 200

C. 100

D. 50

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
Sensex is based on 30 actively traded stocks of BSE.

This question belongs to: Economy GK Economy Set 1

Question #3

Share Report

The 'Fiscal Deficit' in the Union Budget is expressed as a percentage of:

A. Gross Domestic Product

B. total debt

C. revenue receipts

D. total expenditure

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
Fiscal deficit is conventionally expressed as a percentage of GDP.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs