The 'Goods and Services Tax' rate on readymade garments above Rs 1,000 is: MCQ with Answer and Explanation

Question

Share Report Error

The 'Goods and Services Tax' rate on readymade garments above Rs 1,000 is:

A. 5%

B. 18%

C. 28%

D. 12%

Answer: Option D

Solution (By JKSSB Mock Tests)

Readymade garments above Rs 1,000 attract 12% GST.

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

The Self-Help Group Bank Linkage Programme in India is implemented mainly by:

A. SEBI

B. EXIM Bank

C. NABARD

D. IRDA

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
NABARD is the main implementing agency for the SHG-Bank Linkage Programme.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'original sin' problem in international finance refers to:

A. currency depreciation

B. inability of emerging economies to borrow abroad in their own currency

C. trade deficits

D. high domestic debt

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
Original sin is the inability of emerging economies to borrow abroad in their own domestic currency.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Agricultural Produce Market Committee' is a:

A. cooperative society

B. statutory body under state APMC Act

C. private market

D. central government body

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
APMCs are statutory market committees established under state APMC Acts.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs