The 'Goods and Services Tax' was first proposed in India by which committee? MCQ with Answer and Explanation

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The 'Goods and Services Tax' was first proposed in India by which committee?

A. Gadgil Committee

B. Chelliah Committee

C. Rangarajan Committee

D. Narasimham Committee

Answer: Option B

Solution (By JKSSB Mock Tests)

The Chelliah Committee first recommended GST in India.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Constitution (101st Amendment) Act, 2016' inserted which article for GST?

A. Article 280

B. Article 246A

C. Article 356

D. Article 324

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Correct Answer: Option B

Explanation:
Article 246A was inserted by the 101st Amendment for GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The Gadgil formula was used for:

A. sharing of income tax

B. distribution of central plan assistance among states

C. determining agricultural prices

D. allocation of bank credit

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Correct Answer: Option B

Explanation:
The Gadgil formula was used to allocate central plan assistance among states.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' rate on water supply is:

A. 18%

B. 0%

C. not under GST

D. 5%

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Correct Answer: Option B

Explanation:
Water supply through public taps is exempt from GST.

This question belongs to: Economy GK Economy Set 1

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