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

Question

Share Report Error

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

A. 18%

B. 5%

C. 28%

D. 12%

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

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

The 'Vote on Account' is generally taken for a period of:

A. three years

B. two months or up to six months

C. one year

D. five years

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
Vote on Account authorizes expenditure for part of the year, generally two months.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on hotel room service is:

A. 12%

B. 5%

C. 18%

D. 28%

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Room service in hotels generally attracts 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a characteristic of the 'Vertical Equity' principle in taxation?

A. All taxpayers should pay the same absolute amount

B. Only equal absolute burdens are fair

C. Taxpayers with greater ability to pay should bear a larger tax burden

D. Taxes should be independent of income

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Vertical equity requires that taxpayers with greater ability to pay contribute more in taxes, which is the ethical foundation for progressive taxation.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs