The 'Goods and Services Tax' rate on electricity is: MCQ with Answer and Explanation

Question

Share Report Error

The 'Goods and Services Tax' rate on electricity is:

A. not under GST

B. 18%

C. 0%

D. 5%

Answer: Option A

Solution (By JKSSB Mock Tests)

Electricity is outside GST and subject to state electricity duties.

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

Inflation-indexed bonds provide investors protection against:

A. income tax

B. market risk

C. exchange rate fluctuations

D. inflation by linking principal or interest to a price index

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
Inflation-indexed bonds link principal or interest payments to inflation, protecting investors from inflation.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'NACH' system is used for:

A. bulk payments such as subsidies and salary credits

B. foreign exchange trading

C. cryptocurrency

D. stock trading

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
NACH is used for bulk electronic payments.

This question belongs to: Economy GK Economy Set 1

Question #3

The Marginal Standing Facility allows banks to borrow overnight from RBI:

A. without any collateral

B. against approved government securities

C. against corporate bonds

D. against foreign currency

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
MSF allows banks to borrow overnight from the RBI against approved government securities.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs