The 'GST' regime has not subsumed which central tax? MCQ with Answer and Explanation

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The 'GST' regime has not subsumed which central tax?

A. Special additional customs duty

B. Service tax

C. Basic customs duty

D. Additional excise duty

Answer: Option C

Solution (By JKSSB Mock Tests)

Basic customs duty remains outside GST.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Goods and Services Tax' on goods and services is a tax on:

A. wealth

B. property

C. income

D. consumption

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Correct Answer: Option D

Explanation:
GST is a tax on consumption of goods and services.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Global Hunger Index' is published by:

A. World Bank

B. UNDP

C. WHO

D. Concern Worldwide and Welthungerhilfe

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Correct Answer: Option D

Explanation:
The Global Hunger Index is jointly published by Concern Worldwide and Welthungerhilfe.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'demonstration effect' in consumption means:

A. people copy the consumption patterns of others

B. people consume only basic goods

C. people reduce consumption

D. people save more

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Correct Answer: Option A

Explanation:
The demonstration effect is the tendency to imitate the consumption patterns of others.

This question belongs to: Economy GK Economy Set 1

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