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

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

A. 18%

B. 5%

C. 12%

D. 28%

Answer: Option A

Solution (By JKSSB Mock Tests)

Helicopter services attract 18% GST, with some exemptions for pilgrimage.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Which of the following is NOT a component of the money market in India?

A. Certificate of Deposit

B. Treasury Bills

C. Commercial Paper

D. Equity shares

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Correct Answer: Option D

Explanation:
Equity shares are long-term instruments and form part of the capital market. Money market instruments include Treasury Bills, Commercial Paper, Certificates of Deposit and call money.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Nairobi Package' of WTO was adopted in which year?

A. 2013

B. 2019

C. 2015

D. 2017

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Correct Answer: Option C

Explanation:
The Nairobi Package was adopted in 2015.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Generalized System of Preferences' allows developed countries to:

A. ban imports from developing countries

B. harmonize exchange rates

C. impose higher tariffs on developing countries

D. grant preferential tariff treatment to developing countries

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Correct Answer: Option D

Explanation:
GSP allows developed countries to grant preferential tariff treatment to developing countries.

This question belongs to: Economy GK Economy Set 1

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