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

Question
The 'Goods and Services Tax' rate on water supply is:
A. not under GST
B. 0%
C. 5%
D. 18%
Answer: Option B
Solution (By JKSSB Mock Tests)
Water supply through public taps is exempt from 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 concept of 'Dutch Disease' refers to:
A. The positive impact of resource discovery on all sectors
B. A disease affecting agricultural productivity
C. The negative impact of a natural resource boom on the manufacturing sector through currency appreciation
D. Only the impact of oil prices on inflation
Discuss
Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Dutch Disease describes the phenomenon whereby a boom in the natural resource sector leads to real exchange rate appreciation, making the manufacturing and other tradable sectors less competitive.
This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a feature of the Classical dichotomy?
A. Money is neutral in the long run and affects only nominal variables
B. Wages and prices are sticky
C. Fiscal policy is the only effective tool
D. Real and nominal variables are interdependent
Discuss
Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
Classical dichotomy refers to the separation of real and nominal variables, with money being neutral in the long run and affecting only the price level, not real output or employment.
This question belongs to: Economy GK Economy Set 1
Question #3
The 'Goods and Services Tax' on electricity transmission and distribution is:
A. 0%
B. 5%
C. 18%
D. not under GST
Discuss
Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
Electricity transmission and distribution are outside GST.
This question belongs to: Economy GK Economy Set 1
Explore All Economy Set 1 MCQs
Today's Top Topics
Economy Set 1 2220
Explore Subjects
Geography GK 6121 Economy GK 2220 Computer 5279 Maths 5575 Accountancy and Statistics 3179
Practice Mix
The 'Tarapur' is famous for:
The rate at which Rs. 36000 amounts to Rs. 46800 in 3 years is
The 'Gandhian Plan' for economic development was formulated by?
Average of 12 numbers 620. If average of 8 is 615, average of remaining 4?
Only ___ minority of students failed.