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

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The 'Goods and Services Tax' on electric vehicles is:

A. 5%

B. 12%

C. 18%

D. 28%

Answer: Option A

Solution (By JKSSB Mock Tests)

Electric vehicles attract 5% GST to promote clean mobility.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on travel agency services is:

A. 5%

B. 28%

C. 12%

D. 18%

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Correct Answer: Option D

Explanation:
Travel agency services attract 18% GST, unless they opt for the 5% without ITC tour operator scheme.

This question belongs to: Economy GK Economy Set 1

Question #2

In India, the exchange rate of the rupee is best described as:

A. fixed by the government

B. pegged to the dollar

C. managed floating

D. fully floating with no RBI intervention

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Correct Answer: Option C

Explanation:
India follows a managed floating exchange rate system with occasional RBI intervention.

This question belongs to: Economy GK Economy Set 1

Question #3

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

A. Demand-pull inflation

B. Creeping inflation

C. Cost-push inflation

D. Built-in inflation

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Correct Answer: Option B

Explanation:
Creeping inflation is classified on the basis of speed/intensity. Demand-pull, cost-push and built-in (wage-price spiral) are classifications based on causes.

This question belongs to: Economy GK Economy Set 1

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