The 'Goods and Services Tax' on real estate under-construction properties is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on real estate under-construction properties is:

A. 12%

B. 0%

C. 18%

D. 5% or 1% for affordable housing

Answer: Option D

Solution (By JKSSB Mock Tests)

Under-construction residential properties attract 5% GST (1% for affordable housing without ITC).

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'World Bank Group' has how many member countries in IBRD?

A. 164

B. 189

C. 193

D. 150

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Correct Answer: Option B

Explanation:
IBRD has 189 member countries.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Norges Bank Investment Management' manages the sovereign wealth fund of:

A. Norway

B. UAE

C. China

D. Saudi Arabia

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Correct Answer: Option A

Explanation:
Norges Bank Investment Management manages Norway's Government Pension Fund Global.

This question belongs to: Economy GK Economy Set 1

Question #3

Returns to scale refers to the relationship between inputs and output when:

A. only one factor is changed

B. technology is fixed

C. marginal cost is constant

D. all factors are changed in the same proportion

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Correct Answer: Option D

Explanation:
Returns to scale describe the long-run response of output when all inputs change proportionally.

This question belongs to: Economy GK Economy Set 1

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