The 'Goods and Services Tax' on outdoor catering is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on outdoor catering is:

A. 28%

B. 12%

C. 18%

D. 5%

Answer: Option C

Solution (By JKSSB Mock Tests)

Outdoor catering attracts 18% GST with input tax credit.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Second Five Year Plan' period was:

A. 1956-1961

B. 1951-1956

C. 1953-1958

D. 1961-1966

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Correct Answer: Option A

Explanation:
The Second Five Year Plan covered 1956-1961.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of economic growth models, the Solow model emphasises the role of:

A. Only population growth

B. Only capital accumulation without technology

C. Technological progress as the key driver of long-run growth

D. Only savings rate

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Correct Answer: Option C

Explanation:
The Solow-Swan neoclassical growth model shows that long-run growth in per capita income is driven primarily by exogenous technological progress.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'NABARD' was established on the recommendation of which committee?

A. Rangarajan Committee

B. Gadgil Committee

C. Sivaraman Committee

D. Narasimham Committee

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Correct Answer: Option C

Explanation:
NABARD was established on the recommendation of the Sivaraman Committee.

This question belongs to: Economy GK Economy Set 1

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