The 'Goods and Services Tax' on services provided by RBI is: MCQ with Answer and Explanation

Question

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The 'Goods and Services Tax' on services provided by RBI is:

A. 0%

B. exempt

C. 5%

D. 18%

Answer: Option B

Solution (By JKSSB Mock Tests)

RBI services are exempt from GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The first Narasimham Committee of 1991 was appointed to recommend reforms in:

A. capital markets only

B. agricultural pricing

C. the financial system and banking sector

D. indirect taxes

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Correct Answer: Option C

Explanation:
The Narasimham Committee was appointed to recommend financial system and banking sector reforms.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Goods and Services Tax' Council was constituted in which year?

A. 2016

B. 2017

C. 2014

D. 2018

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Correct Answer: Option A

Explanation:
The GST Council was constituted in 2016.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Universal Immunization Programme' aims to protect children against:

A. only COVID-19

B. only polio

C. vaccine-preventable diseases including polio, measles, tuberculosis and others

D. only smallpox

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Correct Answer: Option C

Explanation:
Universal Immunization Programme protects children against multiple vaccine-preventable diseases.

This question belongs to: Economy GK Economy Set 1

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