The 'Goods and Services Tax' rate on gold in India is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' rate on gold in India is:

A. 3%

B. 12%

C. 5%

D. 0%

Answer: Option A

Solution (By JKSSB Mock Tests)

Gold and jewellery attract 3% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Aadhaar Payment Bridge System' enables:

A. foreign exchange trading

B. stock trading

C. insurance claims

D. direct benefit transfers using Aadhaar number

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Correct Answer: Option D

Explanation:
APBS enables direct benefit transfers using Aadhaar number.

This question belongs to: Economy GK Economy Set 1

Question #2

The Sagarmala programme is related to the development of:

A. highways

B. airports

C. ports and coastal infrastructure

D. inland waterways only

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Correct Answer: Option C

Explanation:
Sagarmala aims to promote port-led development and coastal infrastructure.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a primary function of money?

A. Unit of account

B. Medium of exchange

C. Store of value

D. Standard of deferred payments

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Correct Answer: Option B

Explanation:
The primary function of money is to act as a medium of exchange.

This question belongs to: Economy GK Economy Set 1

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