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

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

A. 12%

B. 18%

C. 28%

D. 5%

Answer: Option B

Solution (By JKSSB Mock Tests)

Franchise services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Revenue deficit is calculated as:

A. revenue expenditure minus revenue receipts

B. revenue receipts minus revenue expenditure

C. total expenditure minus total receipts

D. fiscal deficit minus primary deficit

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Correct Answer: Option A

Explanation:
Revenue deficit is revenue expenditure minus revenue receipts.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on air freight is:

A. 5%

B. 12%

C. 18%

D. 28%

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Correct Answer: Option C

Explanation:
Air freight services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'National Apprenticeship Training Scheme' is under:

A. Ministry of Education

B. Ministry of Finance

C. Ministry of Skill Development

D. Ministry of Agriculture

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Correct Answer: Option A

Explanation:
The National Apprenticeship Training Scheme is under the Ministry of Education.

This question belongs to: Economy GK Economy Set 1

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