The 'Goods and Services Tax' on IPL tickets is: MCQ with Answer and Explanation

Question

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The 'Goods and Services Tax' on IPL tickets is:

A. 18%

B. 5%

C. 28%

D. 0%

Answer: Option A

Solution (By JKSSB Mock Tests)

IPL tickets attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

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Which of the following is an example of a transfer payment?

A. Salary paid to government employees

B. Pension paid to retired employees

C. Interest paid on government borrowings

D. Payment for purchase of goods

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Correct Answer: Option B

Explanation:
Transfer payments are unilateral payments for which no goods or services are received in return, such as pensions, scholarships and unemployment allowances. Interest on borrowings is also a transfer, but pension is a classic example.

This question belongs to: Economy GK Economy Set 1