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

Question

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The 'Goods and Services Tax' on sugar confectionery is:

A. 12%

B. 18%

C. 5%

D. 28%

Answer: Option B

Solution (By JKSSB Mock Tests)

Sugar confectionery attracts 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Ayushman Bharat Pradhan Mantri Jan Arogya Yojana' provides health insurance coverage of:

A. Rs 5 lakh per family per year

B. Rs 10 lakh per family per year

C. Rs 2 lakh per family per year

D. Rs 1 lakh per family per year

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Correct Answer: Option A

Explanation:
AB-PMJAY provides health cover of Rs 5 lakh per family per year for secondary and tertiary care.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Goods and Services Tax' has increased tax compliance through:

A. manual returns only

B. IT-based systems like e-invoicing and input tax credit matching

C. only annual filing

D. no returns

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Correct Answer: Option B

Explanation:
GST compliance is enhanced by e-invoicing, electronic returns and input tax credit matching.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'National Initiative for Developing and Harnessing Innovations' supports:

A. innovation and entrepreneurship

B. agricultural research only

C. banking technology

D. defence manufacturing only

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Correct Answer: Option A

Explanation:
NIDHI supports innovation and entrepreneurship.

This question belongs to: Economy GK Economy Set 1

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