The 'State Goods and Services Tax' is levied by: MCQ with Answer and Explanation

Question

Share Report Error

The 'State Goods and Services Tax' is levied by:

A. state government

B. central government

C. RBI

D. local bodies

Answer: Option A

Solution (By JKSSB Mock Tests)

SGST is levied by state governments on intra-state supply.

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

Share Report

In the context of international finance, the 'Trilemma' or 'Impossible Trinity' implies that a country must choose:

A. Only one of the three

B. All three simultaneously

C. Two out of the three: fixed exchange rate, free capital mobility and monetary-policy independence

D. None of the three

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
The trilemma states that only two of the three policy goals—exchange-rate stability, capital-market openness and monetary independence—can be achieved at the same time.

This question belongs to: Economy GK Economy Set 1

Question #2

Share Report

A quota is a:

A. type of exchange rate

B. quantitative restriction on imports or exports

C. tax on exports

D. price support for imports

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
A quota is a quantitative restriction on imports or exports.

This question belongs to: Economy GK Economy Set 1

Question #3

Share Report

The 'Goods and Services Tax' on cryptocurrency is:

A. 18%

B. 0%

C. 28%

D. 5%

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
Cryptocurrency transactions are subject to 18% GST as financial services, though regulation is evolving.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs