The 'Goods and Services Tax' on private coaching centres is: MCQ with Answer and Explanation

Question

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The 'Goods and Services Tax' on private coaching centres is:

A. 5%

B. 12%

C. 0%

D. 18%

Answer: Option D

Solution (By JKSSB Mock Tests)

Private coaching centres attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Clean Development Mechanism' under the Kyoto Protocol allows developed countries to:

A. tax developing countries

B. earn emission reduction credits by investing in projects in developing countries

C. avoid all climate action

D. increase emissions

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Correct Answer: Option B

Explanation:
CDM allows developed countries to earn Certified Emission Reductions by financing emission reduction projects in developing countries.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Basel Committee on Banking Supervision' is headquartered at:

A. London

B. Washington D.C.

C. Basel, Switzerland

D. Geneva

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Correct Answer: Option C

Explanation:
The Basel Committee is headquartered at the Bank for International Settlements in Basel, Switzerland.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is NOT a measure to promote exports?

A. Special Economic Zones

B. Duty drawback schemes

C. Export subsidies

D. High import tariffs on export inputs

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Correct Answer: Option D

Explanation:
High import tariffs on inputs used in export production raise costs and discourage exports. Export promotion measures include subsidies, duty drawbacks and SEZs.

This question belongs to: Economy GK Economy Set 1

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