The 'Goods and Services Tax' on legal services provided to government is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on legal services provided to government is:

A. 0%

B. 12%

C. 18%

D. exempt

Answer: Option D

Solution (By JKSSB Mock Tests)

Legal services provided to government are 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 'Economic Survey' is the annual flagship document of:

A. RBI

B. SEBI

C. NITI Aayog

D. Ministry of Finance

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Correct Answer: Option D

Explanation:
Economic Survey is the flagship annual document of the Ministry of Finance.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Economic Survey' is usually authored by:

A. SEBI

B. RBI

C. NITI Aayog

D. Chief Economic Adviser's team in the Ministry of Finance

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Correct Answer: Option D

Explanation:
The Economic Survey is prepared by the Chief Economic Adviser's team.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a characteristic of a dualistic economy?

A. Coexistence of modern and traditional sectors

B. Only agricultural activities

C. Absence of informal sector

D. Uniform technology across sectors

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Correct Answer: Option A

Explanation:
Dualism refers to the coexistence of a modern, capital-intensive sector alongside a traditional, labour-intensive sector within the same economy.

This question belongs to: Economy GK Economy Set 1

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