The 'Goods and Services Tax' on hotel accommodation Rs 1,000 to Rs 7,500 is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on hotel accommodation Rs 1,000 to Rs 7,500 is:

A. 18%

B. 5%

C. 28%

D. 12%

Answer: Option D

Solution (By JKSSB Mock Tests)

Hotel rooms in this tariff range attract 12% GST.

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 included in the calculation of GDP at market prices?

A. Private consumption expenditure

B. Gross investment

C. Net exports

D. Intermediate goods

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Correct Answer: Option D

Explanation:
GDP includes only final goods and services to avoid double counting. Intermediate goods are not included in GDP calculation.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Startup India Seed Fund Scheme' provides:

A. seed funding to startups

B. subsidies to farmers

C. pension to workers

D. loans to large companies

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Correct Answer: Option A

Explanation:
Startup India Seed Fund Scheme provides seed funding to startups.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Bank of England' is the central bank of:

A. Canada

B. France

C. Germany

D. United Kingdom

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Correct Answer: Option D

Explanation:
The Bank of England is the central bank of the United Kingdom.

This question belongs to: Economy GK Economy Set 1

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