The 'Goods and Services Tax' rate on admission to cultural events is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' rate on admission to cultural events is:

A. 18%

B. 28%

C. 0%

D. 12%

Answer: Option A

Solution (By JKSSB Mock Tests)

Admission to cultural events generally attracts 18% GST, with some exemptions.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The Gini coefficient value of zero indicates:

A. high poverty

B. perfect equality of income distribution

C. perfect inequality

D. no unemployment

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Correct Answer: Option B

Explanation:
A Gini coefficient of zero indicates perfect equality in income distribution.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on biscuits is:

A. 18%

B. 5%

C. 12%

D. 28%

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Correct Answer: Option A

Explanation:
Biscuits generally attract 18% GST, with some low-value variants at 12% or 5%.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on land and property is:

A. 18%

B. 5%

C. not applicable

D. 0%

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Correct Answer: Option C

Explanation:
Sale of land and completed buildings is not subject to GST.

This question belongs to: Economy GK Economy Set 1

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