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

Question

Share Report Error

The 'Goods and Services Tax' rate on luxury cars is:

A. 18%

B. 12%

C. 5%

D. 28%

Answer: Option D

Solution (By JKSSB Mock Tests)

Luxury cars attract 28% GST plus cess.

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

Share Report

Which of the following is a tool of quantitative monetary policy?

A. Moral suasion

B. Direct action

C. Credit rationing

D. Open Market Operations

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
Open Market Operations (buying and selling of government securities by RBI) is a quantitative tool that affects the overall volume of credit and money supply.

This question belongs to: Economy GK Economy Set 1

Question #2

Share Report

The 'Public Provident Fund' is a:

A. current account

B. foreign exchange instrument

C. long-term small savings scheme

D. short-term trading instrument

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Public Provident Fund is a long-term small savings scheme.

This question belongs to: Economy GK Economy Set 1

Question #3

Share Report

The 'inflation targeting' in India uses which index as the nominal anchor?

A. CPI-IW only

B. WPI

C. GDP deflator

D. CPI-Combined

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
RBI's inflation targeting uses CPI-Combined as the nominal anchor.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs