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. 28%

B. 18%

C. 5%

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

The 'rent-seeking' behaviour in economics refers to:

A. manipulating political or economic environment to obtain benefits without creating wealth

B. buying real estate

C. paying rent

D. earning profit through productive activity

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Correct Answer: Option A

Explanation:
Rent-seeking is the pursuit of benefits through manipulation rather than productive activity.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a tertiary sector activity?

A. Software services

B. Construction

C. Mining

D. Agriculture

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Correct Answer: Option A

Explanation:
Software services are part of the tertiary or services sector.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' has enabled seamless input tax credit across states, which has eliminated:

A. income tax

B. customs duty

C. direct taxes

D. tax cascading and barriers to interstate trade

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Correct Answer: Option D

Explanation:
Seamless ITC has removed cascading and eased interstate trade.

This question belongs to: Economy GK Economy Set 1

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