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

Question

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

A. 12%

B. 5%

C. 0%

D. 18%

Answer: Option C

Solution (By JKSSB Mock Tests)

Newspapers are exempt from GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is a feature of a mixed economy?

A. Complete private ownership of resources

B. Coexistence of public and private sectors

C. Complete government ownership of resources

D. Absence of government intervention

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Correct Answer: Option B

Explanation:
A mixed economy is characterised by the coexistence of both public and private sectors, with government intervention to correct market failures.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Prime Minister's Economic Advisory Council' was reconstituted in which year?

A. 2014

B. 2020

C. 2019

D. 2017

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Correct Answer: Option D

Explanation:
The PMEAC was reconstituted in September 2017.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Goods and Services Tax' on long-term lease of industrial plots is:

A. 0%

B. 5%

C. 18%

D. 12%

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Correct Answer: Option C

Explanation:
Long-term lease of industrial plots attracts 18% GST.

This question belongs to: Economy GK Economy Set 1

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