The 'Goods and Services Tax' on IT-enabled services is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on IT-enabled services is:

A. 5%

B. 12%

C. 28%

D. 18%

Answer: Option D

Solution (By JKSSB Mock Tests)

IT-enabled services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

The concept of 'Planetary Boundaries' identifies:

A. Only national environmental regulations

B. Only economic growth limits

C. Only population limits

D. Nine biophysical thresholds that, if crossed, could destabilise the Earth system

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Correct Answer: Option D

Explanation:
The planetary-boundaries framework, developed by Rockström and colleagues, defines a set of nine Earth-system processes and associated quantitative boundaries within which humanity can operate safely.

This question belongs to: Economy GK Economy Set 1

Question #2

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

A. 18%

B. 28%

C. 12%

D. 5%

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Correct Answer: Option A

Explanation:
Shipping services attract 18% GST, with some exemptions.

This question belongs to: Economy GK Economy Set 1

Question #3

The largest component of India's GDP in recent years is contributed by the:

A. manufacturing sector

B. mining sector

C. services sector

D. agriculture sector

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Correct Answer: Option C

Explanation:
The services sector is the largest contributor to India's GDP.

This question belongs to: Economy GK Economy Set 1

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