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

Question

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

A. 12%

B. 5%

C. 28%

D. 18%

Answer: Option D

Solution (By JKSSB Mock Tests)

Housekeeping services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is a non-debt creating capital receipt of the government?

A. Treasury bills

B. Recovery of loans

C. External commercial borrowings

D. Market borrowings

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Correct Answer: Option B

Explanation:
Recovery of loans is a non-debt capital receipt because it does not create a future liability. Borrowings of all kinds create debt.

This question belongs to: Economy GK Economy Set 1

Question #2

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Selling costs are a distinguishing feature of which market structure?

A. Monopoly

B. Pure competition

C. Perfect competition

D. Monopolistic competition

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Correct Answer: Option D

Explanation:
Firms in monopolistic competition incur selling costs to differentiate their products and attract customers.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'National Anti-profiteering Authority' was later replaced by which body under GST?

A. GST Council

B. Central Board of Indirect Taxes and Customs

C. Competition Commission of India

D. GST Appellate Tribunal

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Correct Answer: Option C

Explanation:
The NAA's functions were transferred to the Competition Commission of India.

This question belongs to: Economy GK Economy Set 1

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