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

The 'Goods and Services Tax' on engineering services is:
A. 5%
B. 18%
C. 12%
D. 28%
Answer: Option B
Solution (By JKSSB Mock Tests)
Engineering services attract 18% GST.

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Practice More Economy Set 1 Questions

Question #1
Which of the following is a feature of the 'Job Guarantee' proposal?
A. Only training programmes without employment
B. Only unemployment insurance without job offers
C. A public programme that offers employment at a living wage to anyone willing and able to work
D. Only private-sector job creation without public involvement

Correct Answer: Option C


Explanation:
A job-guarantee programme commits the public sector to provide a job at a basic living wage to every person who wants one, thereby eliminating involuntary unemployment and establishing an effective wage floor.

This question belongs to: Economy GK Economy Set 1
Question #2
The Gini coefficient value of zero indicates:
A. high poverty
B. perfect equality of income distribution
C. no unemployment
D. perfect inequality

Correct Answer: Option B


Explanation:
A Gini coefficient of zero indicates perfect equality in income distribution.

This question belongs to: Economy GK Economy Set 1
Question #3
In the context of banking, the Statutory Liquidity Ratio (SLR) is maintained in the form of:
A. Only equity shares
B. Only foreign exchange
C. Cash, gold and approved securities
D. Only cash

Correct Answer: Option C


Explanation:
Banks are required to maintain SLR in the form of cash, gold or unencumbered approved securities as a percentage of their Net Demand and Time Liabilities.

This question belongs to: Economy GK Economy Set 1