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

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The 'Goods and Services Tax' on toll charges is:

A. 5%

B. 0%

C. 18%

D. exempt

Answer: Option D

Solution (By JKSSB Mock Tests)

Toll charges are exempt from GST.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Goods and Services Tax' on bread is:

A. 12%

B. 5%

C. 18%

D. 0%

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Correct Answer: Option D

Explanation:
Bread is exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #2

A current account surplus occurs when:

A. foreign exchange reserves fall

B. exports of goods, services and income exceed imports

C. imports exceed exports

D. capital outflows exceed inflows

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Correct Answer: Option B

Explanation:
A current account surplus occurs when exports of goods, services and income exceed imports.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'GST Suvidha Provider' is:

A. a bank

B. an authorized private IT intermediary for GST compliance

C. a chartered accountant

D. a tax official

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Correct Answer: Option B

Explanation:
GST Suvidha Providers are authorized IT intermediaries for GST compliance services.

This question belongs to: Economy GK Economy Set 1

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