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. 0%

B. 5%

C. 18%

D. 28%

Answer: Option C

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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The 'GST compensation cess' is levied on which goods?

A. all goods

B. essential food items

C. luxury and sin goods

D. agricultural produce only

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Correct Answer: Option C

Explanation:
GST compensation cess is levied on luxury and sin goods.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'NITI Aayog' full form is:

A. National Institute for Transforming India

B. National Integrated Transport Institute

C. National Initiative for Trade and Industry

D. National Institution for Transforming India

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Correct Answer: Option D

Explanation:
NITI stands for National Institution for Transforming India.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Goods and Services Tax' rate on education and health care is zero because:

A. they are luxury services

B. they are outside GST

C. they are considered essential services

D. they are taxed by states

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Correct Answer: Option C

Explanation:
Education and health care are essential services and are exempted.

This question belongs to: Economy GK Economy Set 1

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