The 'Goods and Services Tax' rate on cinema tickets below Rs 100 is: MCQ with Answer and Explanation

Question

Share Report Error

The 'Goods and Services Tax' rate on cinema tickets below Rs 100 is:

A. 12%

B. 28%

C. 5%

D. 18%

Answer: Option A

Solution (By JKSSB Mock Tests)

Cinema tickets up to Rs 100 attract 12% GST.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

The term 'Green Revolution' in India is associated with:

A. Increase in industrial production

B. Increase in service sector growth

C. Increase in agricultural production

D. Increase in foreign investment

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
The Green Revolution refers to the significant increase in agricultural production in India, particularly of wheat and rice, through high-yielding varieties, fertilizers and irrigation, starting in the mid-1960s.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' Council was constituted in which year?

A. 2018

B. 2017

C. 2016

D. 2014

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
The GST Council was constituted in 2016.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Pareto Efficiency' implies that:

A. All markets are perfectly competitive

B. Income is equally distributed

C. Resources can be reallocated to make someone better off without making anyone worse off

D. No reallocation can make one person better off without making someone else worse off

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
A Pareto efficient allocation is one where it is impossible to make any individual better off without making at least one individual worse off.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs