The 'Goods and Services Tax' on land leasing is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on land leasing is:

A. exempt for agricultural land and taxable for commercial

B. 18%

C. not applicable

D. 5%

Answer: Option A

Solution (By JKSSB Mock Tests)

Leasing of agricultural land is exempt; commercial land leasing may attract GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a characteristic of the Indian tax structure post-GST?

A. Multiple cascading taxes on the same value addition

B. Origin-based taxation without input credit

C. Only central taxes without state participation

D. Destination-based consumption tax with input tax credit

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Correct Answer: Option D

Explanation:
GST is a destination-based consumption tax that allows seamless input tax credit, thereby eliminating cascading and creating a unified market.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Pradhan Mantri Kaushal Vikas Yojana' was launched in:

A. 2015

B. 2016

C. 2013

D. 2018

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Correct Answer: Option A

Explanation:
PMKVY was launched in 2015.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'National Action Plan on Climate Change' was released in:

A. 2008

B. 2005

C. 2015

D. 2010

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Correct Answer: Option A

Explanation:
The National Action Plan on Climate Change was released in 2008.

This question belongs to: Economy GK Economy Set 1

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