The 'Goods and Services Tax' on small cars is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on small cars is:

A. 18%

B. 12%

C. 5%

D. 28% plus cess

Answer: Option D

Solution (By JKSSB Mock Tests)

Small cars attract 28% GST plus cess, with lower rates for some categories.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Marginal cost intersects the average total cost curve at its:

A. maximum point

B. point of inflection

C. starting point

D. minimum point

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Correct Answer: Option D

Explanation:
Marginal cost intersects average total cost at its minimum point.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'automatic route' for FDI means:

A. only foreign individuals can invest

B. prior approval is required

C. no prior approval is required

D. only government companies can invest

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Correct Answer: Option C

Explanation:
Under the automatic route, FDI does not require prior government approval.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Regional Rural Banks' were established in India in which year?

A. 1991

B. 1969

C. 1975

D. 1980

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Correct Answer: Option C

Explanation:
Regional Rural Banks were established in 1975.

This question belongs to: Economy GK Economy Set 1

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