The 'Goods and Services Tax' on luxury cars is: MCQ with Answer and Explanation

Question

Share Report Error

The 'Goods and Services Tax' on luxury cars is:

A. 5%

B. 18%

C. 28% plus cess

D. 12%

Answer: Option C

Solution (By JKSSB Mock Tests)

Luxury cars attract 28% GST plus cess.

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

Share Report

Which of the following taxes has NOT been subsumed under GST?

A. Service Tax

B. Central Excise Duty

C. State VAT

D. Basic Customs Duty

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
Basic Customs Duty has not been subsumed under GST.

This question belongs to: Economy GK Economy Set 1

Question #2

Share Report

The 'Goods and Services Tax' on imitation jewellery is:

A. 3%

B. 5%

C. 18%

D. 12%

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
Imitation jewellery attracts 5% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

Share Report

The 'reverse charge mechanism' under GST is applicable when:

A. a registered supplier sells to an unregistered recipient

B. goods are imported only

C. the recipient is required to pay tax instead of the supplier

D. goods are exported

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Under reverse charge, the recipient pays GST instead of the supplier.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs