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

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The 'Goods and Services Tax' on unbranded cereals is:

A. 0%

B. 5%

C. 18%

D. 12%

Answer: Option A

Solution (By JKSSB Mock Tests)

Unbranded cereals 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 term 'Capital Formation' refers to:

A. Increase in money supply

B. Increase in the stock of capital goods

C. Increase in consumption

D. Increase in population

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Correct Answer: Option B

Explanation:
Capital formation refers to the net addition to the existing stock of capital goods such as machinery, buildings and equipment in an economy.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Gross National Product at market prices' equals GDP at market prices plus:

A. subsidies

B. net factor income from abroad

C. indirect taxes

D. depreciation

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Correct Answer: Option B

Explanation:
GNP at market prices = GDP at market prices + net factor income from abroad.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'e-Pathshala' is an initiative for:

A. railway reservation

B. tax payment

C. digital textbooks and learning resources

D. online banking

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Correct Answer: Option C

Explanation:
e-Pathshala provides digital textbooks and educational resources.

This question belongs to: Economy GK Economy Set 1

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