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. Basic customs duty

B. Additional excise duty

C. Service tax

D. Special additional customs duty

Answer: Option A

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 term 'Base Year' in the context of national income statistics is important because:

A. It determines the tax rates

B. It determines the fiscal deficit

C. It is used to calculate real GDP by providing constant prices

D. It fixes the exchange rate

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Correct Answer: Option C

Explanation:
The base year provides the constant price structure used to calculate real (inflation-adjusted) GDP and other national income aggregates, enabling comparison over time.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Logistic Performance Index' is published by:

A. UNCTAD

B. World Bank

C. IMF

D. WTO

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Correct Answer: Option B

Explanation:
The Logistics Performance Index is published by the World Bank.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Ayushman Bharat Yojana' has two components: Health and Wellness Centres and:

A. Pradhan Mantri Jan Arogya Yojana

B. Pradhan Mantri Ujjwala Yojana

C. Pradhan Mantri Mudra Yojana

D. Pradhan Mantri Awas Yojana

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Correct Answer: Option A

Explanation:
Ayushman Bharat includes Health and Wellness Centres and PM-JAY.

This question belongs to: Economy GK Economy Set 1

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