The 'Goods and Services Tax' on interest on deposits and loans is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on interest on deposits and loans is:

A. 12%

B. 18%

C. exempt

D. 0%

Answer: Option C

Solution (By JKSSB Mock Tests)

Interest on deposits and loans is exempt from GST.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Public Account of India' is constituted under which article?

A. Article 280

B. Article 263

C. Article 266

D. Article 312

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Correct Answer: Option C

Explanation:
The Public Account of India is constituted under Article 266.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on call centre services is:

A. 12%

B. 28%

C. 18%

D. 5%

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Correct Answer: Option C

Explanation:
Call centre services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

Gross National Product at market prices equals GDP at market prices:

A. minus net factor income from abroad

B. minus depreciation

C. plus depreciation

D. plus net factor income from abroad

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Correct Answer: Option D

Explanation:
GNP = GDP + net factor income from abroad.

This question belongs to: Economy GK Economy Set 1

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