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

Question

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The 'Goods and Services Tax' rate on mobile phones is:

A. 12%

B. 18%

C. 28%

D. 5%

Answer: Option B

Solution (By JKSSB Mock Tests)

Mobile phones attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The concept of 'Circular Flow of Income' is associated with:

A. Macroeconomics

B. Microeconomics

C. International economics

D. Development economics only

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Correct Answer: Option A

Explanation:
The circular flow of income is a macroeconomic concept that shows the continuous movement of goods, services and money between households, firms, government and the external sector.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Goods and Services Tax' on services provided by journalists is:

A. 0%

B. 12%

C. 5%

D. 18%

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Correct Answer: Option D

Explanation:
Journalist services attract 18% GST unless exempt.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Index of Industrial Production' in India is released by:

A. Ministry of Finance

B. NITI Aayog

C. Ministry of Statistics and Programme Implementation

D. RBI

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Correct Answer: Option C

Explanation:
IIP is released by MoSPI.

This question belongs to: Economy GK Economy Set 1

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