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

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The 'Goods and Services Tax' on gym and fitness services is:

A. 28%

B. 18%

C. 12%

D. 5%

Answer: Option B

Solution (By JKSSB Mock Tests)

Gym and fitness 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

The Labour Force Participation Rate is calculated as:

A. labour force divided by working-age population multiplied by 100

B. total population divided by employed

C. unemployed divided by labour force multiplied by 100

D. employed divided by unemployed

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Correct Answer: Option A

Explanation:
LFPR = (labour force / working-age population) × 100.

This question belongs to: Economy GK Economy Set 1

Question #2

Veblen goods are demanded mainly because:

A. high price confers prestige or status

B. their price is low

C. they are necessities

D. they have many substitutes

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Correct Answer: Option A

Explanation:
Veblen goods are conspicuous consumption goods where a higher price increases their status value.

This question belongs to: Economy GK Economy Set 1

Question #3

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

A. 5%

B. 12%

C. 18%

D. 28%

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Correct Answer: Option C

Explanation:
Engineering services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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