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

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The 'Goods and Services Tax' on event management services is:

A. 28%

B. 18%

C. 12%

D. 5%

Answer: Option B

Solution (By JKSSB Mock Tests)

Event management services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'systemically important financial institution' is one whose failure could:

A. reduce inflation

B. trigger a systemic crisis

C. have no effect on the economy

D. benefit other banks

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Correct Answer: Option B

Explanation:
A systemically important institution is too big or interconnected to fail without causing systemic risk.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Goods and Services Tax' rate on health care services is:

A. 5%

B. 12%

C. 0%

D. 18%

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Correct Answer: Option C

Explanation:
Health care services are exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Urjit Patel Committee' recommended which inflation target for India?

A. 2%

B. 4% with a band of +/- 2%

C. 5% fixed

D. 6% with a band of +/- 1%

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Correct Answer: Option B

Explanation:
The Urjit Patel Committee recommended an inflation target of 4% with a +/- 2% band.

This question belongs to: Economy GK Economy Set 1

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