The 'Goods and Services Tax' on lottery, betting and gambling is part of the: MCQ with Answer and Explanation

Question
The 'Goods and Services Tax' on lottery, betting and gambling is part of the:
A. 28% slab plus cess
B. 12% slab
C. 18% slab
D. 5% slab
Answer: Option A
Solution (By JKSSB Mock Tests)
Lottery, betting and gambling are in the 28% slab.
This question belongs to: Economy GK Economy Set 1
Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1
The primary objective of the Reserve Bank of India's monetary policy is to:
A. maintain price stability while keeping in mind the objective of growth
B. eliminate fiscal deficit
C. manage government expenditure
D. maximize exports
Discuss
Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
The RBI's monetary policy aims primarily to maintain price stability while supporting economic growth.
This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is an advantage of a flexible exchange rate regime?
A. Complete insulation from all external shocks
B. Elimination of all exchange rate volatility
C. Automatic adjustment mechanism for balance of payments disequilibria
D. No need for any foreign exchange reserves
Discuss
Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Under flexible exchange rates, the currency appreciates or depreciates automatically in response to balance of payments pressures, helping to restore equilibrium.
This question belongs to: Economy GK Economy Set 1
Question #3
The Sensex is a stock market index of the:
A. India International Exchange
B. Bombay Stock Exchange
C. Multi Commodity Exchange
D. National Stock Exchange
Discuss
Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
The Sensex is the benchmark index of the Bombay Stock Exchange (BSE).
This question belongs to: Economy GK Economy Set 1
Explore All Economy Set 1 MCQs
Today's Top Topics
Economy Set 1 2220
Explore Subjects
Accountancy and Statistics 3179 English 15164 Computer 5279 Geography GK 6121 Reasoning 2064
Practice Mix
Which of the following is the primary reason for the high rainfall in the Eastern Ghats?
In Access, which of the following is a valid way to import data from an Excel spreadsheet?
Find the error: 'She has a beautiful hair.'
The shortcut to open the 'Find' dialog in MS Excel is:
The noun 'news' is singular, so we say: