The 'Goods and Services Tax' on transport of passengers by rail is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on transport of passengers by rail is:

A. 18%

B. 0%

C. exempt for general class and 5% for AC classes

D. 12%

Answer: Option C

Solution (By JKSSB Mock Tests)

Rail passenger transport is exempt for general class and 5% for AC classes.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Permanent Account Number' in India is issued by:

A. Ministry of Corporate Affairs

B. SEBI

C. Income Tax Department

D. RBI

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Correct Answer: Option C

Explanation:
PAN is issued by the Income Tax Department.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'free trade area' is an arrangement where member countries:

A. adopt a common external tariff

B. harmonize taxes

C. eliminate tariffs among themselves but retain independent external tariffs

D. share a common currency

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Correct Answer: Option C

Explanation:
In a free trade area, members remove tariffs among themselves but maintain independent external tariffs.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'World Trade Organization' has how many members?

A. 200

B. 190

C. 164

D. about 120

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Correct Answer: Option C

Explanation:
The WTO has 164 members.

This question belongs to: Economy GK Economy Set 1

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