The 'Goods and Services Tax' rate on e-books is: MCQ with Answer and Explanation

Question

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The 'Goods and Services Tax' rate on e-books is:

A. 12%

B. 18%

C. 0%

D. 5%

Answer: Option D

Solution (By JKSSB Mock Tests)

E-books attract 5% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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An inflationary gap exists when:

A. actual output is below potential output

B. aggregate demand exceeds full employment output

C. aggregate demand is less than full employment output

D. unemployment is high

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Correct Answer: Option B

Explanation:
An inflationary gap occurs when aggregate demand exceeds what the economy can produce at full employment.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Goods and Services Tax' on passenger transport by non-AC buses is:

A. 5%

B. 12%

C. 0%

D. exempt

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Correct Answer: Option D

Explanation:
Non-AC bus transport is exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #3

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Disinvestment refers to:

A. sale of government equity in public sector enterprises

B. foreign investment in defence

C. purchase of private sector equity by the government

D. borrowing from the IMF

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Correct Answer: Option A

Explanation:
Disinvestment is the sale of government equity in public sector enterprises.

This question belongs to: Economy GK Economy Set 1

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