The 'Goods and Services Tax' on mineral water is: MCQ with Answer and Explanation

Question

Share Report Error

The 'Goods and Services Tax' on mineral water is:

A. 5%

B. 18%

C. 28%

D. 12%

Answer: Option B

Solution (By JKSSB Mock Tests)

Mineral water attracts 18% GST.

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

The 'Liberalised Remittance Scheme' of RBI allows resident individuals to remit up to how much per financial year?

A. USD 2,50,000

B. USD 10,000

C. USD 1,00,000

D. USD 25,000

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
Under LRS, resident individuals can remit up to USD 2,50,000 per financial year for permitted transactions.

This question belongs to: Economy GK Economy Set 1

Question #2

Share Report

Which of the following is a feature of the 'Special Drawing Rights' allocation by the IMF?

A. SDRs can be used only for domestic fiscal spending

B. SDRs are a form of private cryptocurrency

C. A general allocation of SDRs provides unconditional liquidity to member countries in proportion to their quotas

D. SDRs are only available to countries with balance-of-payments needs under strict conditionality

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
A general SDR allocation distributes new SDRs to all IMF members in proportion to their quotas, thereby increasing global liquidity without the policy conditionality attached to IMF lending programmes.

This question belongs to: Economy GK Economy Set 1

Question #3

Share Report

The 'Goods and Services Tax' rate on e-books is:

A. 0%

B. 18%

C. 5%

D. 12%

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
E-books attract 5% GST.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs