The term 'revenue-neutral rate' in GST context means a rate that: MCQ with Answer and Explanation

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The term 'revenue-neutral rate' in GST context means a rate that:

A. maintains the same revenue collection as pre-GST indirect taxes

B. eliminates all taxes

C. only applies to direct taxes

D. maximizes tax revenue

Answer: Option A

Solution (By JKSSB Mock Tests)

Revenue-neutral rate is the GST rate that preserves the existing indirect tax revenue.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'National Family Health Survey' is conducted by:

A. RBI

B. NSSO

C. Ministry of Health and Family Welfare with IIPS

D. NITI Aayog

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Correct Answer: Option C

Explanation:
NFHS is conducted by the Ministry of Health and Family Welfare with the International Institute for Population Sciences.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' rate on e-books is:

A. 0%

B. 18%

C. 12%

D. 5%

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Correct Answer: Option D

Explanation:
E-books attract 5% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on hotel accommodation Rs 1,000 to Rs 7,500 is:

A. 5%

B. 28%

C. 18%

D. 12%

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Correct Answer: Option D

Explanation:
Hotel rooms in this tariff range attract 12% GST.

This question belongs to: Economy GK Economy Set 1

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