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

Question

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

A. 28%

B. 18%

C. 5%

D. 12%

Answer: Option B

Solution (By JKSSB Mock Tests)

Software services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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In the context of Indian agriculture, the term 'Minimum Support Price' is recommended by:

A. Reserve Bank of India

B. NITI Aayog

C. Commission for Agricultural Costs and Prices

D. Food Corporation of India

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Correct Answer: Option C

Explanation:
The Commission for Agricultural Costs and Prices (CACP) recommends Minimum Support Prices for various crops, which are then approved by the government.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'National Digital Library of India' provides:

A. land records

B. passport services

C. banking services

D. digital educational resources

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Correct Answer: Option D

Explanation:
National Digital Library of India provides digital educational resources.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Goods and Services Tax Network' was created as a:

A. special purpose vehicle

B. constitutional body

C. statutory body

D. government department

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Correct Answer: Option A

Explanation:
GSTN was created as a special purpose vehicle to provide IT infrastructure for GST.

This question belongs to: Economy GK Economy Set 1

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