The 'Goods and Services Tax' on shipping services is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on shipping services is:

A. 12%

B. 18%

C. 5%

D. 28%

Answer: Option B

Solution (By JKSSB Mock Tests)

Shipping services attract 18% GST, with some exemptions.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Reserve Bank of India' has how many regional offices?

A. 31

B. 19

C. 25

D. 10

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Correct Answer: Option B

Explanation:
The RBI has 19 regional offices.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'National Payments Corporation of India' operates which of the following?

A. BSE

B. UPI and RuPay

C. IRDAI

D. NSE

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Correct Answer: Option B

Explanation:
NPCI operates retail payment systems such as UPI, RuPay, NACH and IMPS.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on land leasing is:

A. 5%

B. exempt for agricultural land and taxable for commercial

C. not applicable

D. 18%

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Correct Answer: Option B

Explanation:
Leasing of agricultural land is exempt; commercial land leasing may attract GST.

This question belongs to: Economy GK Economy Set 1

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