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

Question

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The 'Goods and Services Tax' on spices is:

A. 5%

B. 0%

C. 18%

D. 12%

Answer: Option A

Solution (By JKSSB Mock Tests)

Spices generally attract 5% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Goods and Services Tax' on takeaway food from restaurants is:

A. 28%

B. 18%

C. 5%

D. 12%

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Correct Answer: Option C

Explanation:
Takeaway food from restaurants attracts 5% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Economic and Social Council' is one of the principal organs of:

A. United Nations

B. IMF

C. WTO

D. World Bank

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Correct Answer: Option A

Explanation:
The Economic and Social Council is a principal organ of the United Nations.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Annual Financial Statement' shows:

A. only tax revenues

B. only foreign debt

C. only plan expenditure

D. estimated receipts and expenditure of the government for a financial year

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Correct Answer: Option D

Explanation:
Annual Financial Statement shows estimated receipts and expenditure.

This question belongs to: Economy GK Economy Set 1

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