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. 12%

B. 5%

C. 18%

D. 0%

Answer: Option C

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 'GST' compensation cess was collected to compensate states for how many years from 2017?

A. 10 years

B. 15 years

C. 2 years

D. 5 years

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Correct Answer: Option D

Explanation:
Compensation cess was initially for five years (2017-2022), later extended.

This question belongs to: Economy GK Economy Set 1

Question #2

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The concept of 'Intergenerational Equity' in fiscal policy emphasises:

A. Only reducing taxes for the current generation

B. Fair distribution of the burden of public debt between present and future generations

C. Only maximising current consumption

D. Only short-term stabilisation

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Correct Answer: Option B

Explanation:
Intergenerational equity requires that the burden of financing public expenditure and debt is distributed fairly across generations so that future generations are not unduly burdened.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'index of eight core industries' does not include which of the following?

A. Steel

B. Cement

C. Pharmaceuticals

D. Coal

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Correct Answer: Option C

Explanation:
Pharmaceuticals is not included in the eight core industries.

This question belongs to: Economy GK Economy Set 1

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