The 'Goods and Services Tax' on railway freight is: MCQ with Answer and Explanation

Question

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The 'Goods and Services Tax' on railway freight is:

A. 0%

B. 18%

C. 5%

D. 12%

Answer: Option C

Solution (By JKSSB Mock Tests)

Rail freight attracts 5% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The term 'Structural Unemployment' arises due to:

A. Seasonal variations in demand

B. Cyclical fluctuations in economic activity

C. Changes in the structure of the economy

D. Temporary mismatch between jobs and workers

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Correct Answer: Option C

Explanation:
Structural unemployment occurs due to changes in the structure of the economy, such as technological changes or decline of certain industries, creating a mismatch between skills of workers and available jobs.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Goods and Services Tax' on ready-to-move-in property is:

A. 18%

B. not applicable

C. 12%

D. 5%

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Correct Answer: Option B

Explanation:
Ready-to-move-in property is not subject to GST.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Reserve Bank of India' was established on:

A. 1 April 1934

B. 1 January 1935

C. 1 July 1934

D. 1 April 1935

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Correct Answer: Option D

Explanation:
The RBI was established on 1 April 1935.

This question belongs to: Economy GK Economy Set 1

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