The 'Goods and Services Tax' was implemented in India from which date? MCQ with Answer and Explanation

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The 'Goods and Services Tax' was implemented in India from which date?

A. 1 April 2016

B. 1 January 2017

C. 1 April 2017

D. 1 July 2017

Answer: Option D

Solution (By JKSSB Mock Tests)

GST was implemented on 1 July 2017.

This question belongs to: Economy GK Economy Set 1

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Question #1

The term 'Primary Deficit' indicates:

A. Fiscal deficit including interest payments

B. Revenue deficit excluding interest payments

C. Budgetary deficit only

D. Fiscal deficit excluding interest payments

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Correct Answer: Option D

Explanation:
Primary deficit = Fiscal deficit − Interest payments. It shows the borrowing requirement of the government excluding the interest burden of past debt.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on beauty parlour services is:

A. 5%

B. 28%

C. 12%

D. 18%

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Correct Answer: Option D

Explanation:
Beauty parlour services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Eighth Five Year Plan' period was:

A. 1990-1995

B. 1987-1992

C. 1992-1997

D. 1997-2002

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Correct Answer: Option C

Explanation:
The Eighth Five Year Plan covered 1992-1997.

This question belongs to: Economy GK Economy Set 1

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