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

The 'Goods and Services Tax' on warehousing services is:
A. 28%
B. 5%
C. 12%
D. 18%
Answer: Option D
Solution (By JKSSB Mock Tests)
Warehousing services attract 18% GST.

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Practice More Economy Set 1 Questions

Question #1
The 'International Monetary Fund' headquarters is in:
A. Paris
B. Washington D.C.
C. New York
D. Geneva

Correct Answer: Option B


Explanation:
IMF headquarters is in Washington D.C.

This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a characteristic of 'Self-Preferencing' by digital platforms?
A. Only offline preferential practices
B. The equal treatment of all products on the platform
C. The practice of a platform giving preferential treatment to its own products or services over those of competitors that use the platform
D. Only the preference for third-party products

Correct Answer: Option C


Explanation:
Self-preferencing occurs when a vertically integrated platform systematically favours its own downstream products or services in ranking, display or access to data, potentially harming competition on the platform.

This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is a feature of a mixed economy?
A. Coexistence of public and private sectors
B. Absence of government intervention
C. Complete private ownership of resources
D. Complete government ownership of resources

Correct Answer: Option A


Explanation:
A mixed economy is characterised by the coexistence of both public and private sectors, with government intervention to correct market failures.

This question belongs to: Economy GK Economy Set 1