The 'Goods and Services Tax' on online education courses is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on online education courses is:

A. 18%

B. 12%

C. 0%

D. 5%

Answer: Option A

Solution (By JKSSB Mock Tests)

Online education courses generally attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Gross National Disposable Income' equals GNP at market prices plus:

A. net current transfers from abroad

B. indirect taxes

C. net factor income from abroad

D. depreciation

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Correct Answer: Option A

Explanation:
Gross National Disposable Income = GNP at market prices + net current transfers from abroad.

This question belongs to: Economy GK Economy Set 1

Question #2

The concept of 'Deadweight Loss' arises due to:

A. Market distortions such as taxes, subsidies or monopolies

B. Efficient resource allocation

C. Perfect competition

D. Free trade

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Correct Answer: Option A

Explanation:
Deadweight loss is the loss of economic efficiency that occurs when the equilibrium quantity is not achieved due to market imperfections or government interventions.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on services provided by RBI is:

A. exempt

B. 0%

C. 18%

D. 5%

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Correct Answer: Option A

Explanation:
RBI services are exempt from GST.

This question belongs to: Economy GK Economy Set 1

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