The 'GST compensation cess' was originally applicable for how many years from 2017? MCQ with Answer and Explanation

Question

Share Report Error

The 'GST compensation cess' was originally applicable for how many years from 2017?

A. 2 years

B. 15 years

C. 10 years

D. 5 years

Answer: Option D

Solution (By JKSSB Mock Tests)

GST compensation cess was initially applicable for five years from 2017 to 2022, later extended.

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 'Goods and Services Tax' on franchise services is:

A. 12%

B. 18%

C. 28%

D. 5%

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
Franchise services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The Laffer curve shows the relationship between:

A. interest rate and investment

B. inflation and unemployment

C. income and consumption

D. tax rate and tax revenue

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
The Laffer curve shows the relationship between tax rates and total tax revenue.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Pradhan Mantri Jeevan Jyoti Bima Yojana' provides:

A. vehicle insurance

B. life insurance

C. health insurance

D. crop insurance

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
PMJJBY provides life insurance cover.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs