This topic contains 0 replies, has 0 voices, and was last updated by  EduGorilla 1 year, 7 months ago.

  • Author
  • #1517287 Reply
    Select Question Language :

    Direction: Read the given passage carefully and answer the questions that follow.

    Goods and services tax (GST) comes into effect from 1 July. There will be an impact on some basic expenses in the household consumption basket. The price difference will be bigger for SUVs (55% to 43%) compared to small cars (30% to 29%). While premium of term plans and non-life policies are taxed, only charges (mortality and AMC charges, etc) in other life policies attract GST. The yellow metal will become dearer as there will be 3% GST on gold and 5% on making charges. If you settle for a room that costs less than Rs 1,000, there will be no GST to pay. Then it rises progressively. Anything above Rs 5,000 will attract 28%. Hair oil prices will stay high due to 18% GST. But coconut oil being refined cooking oil, will be taxed at 5%. Taxation gap between economy and business class has increased with GST. While those travelling by local trains or in sleeper class are not affected, first-class and AC compartment travellers will pay more. Since telecom services will not get much input credit, you have to bear the burden of hiked rates. A non-AC eatery will only charge 12% GST. However, eating at a restaurant in a 5-star hotel will mean shelling out 28% in GST. Due to industry pressure, GST on garments priced below Rs 1,000 has been brought down from 12% to 5%. Reduction in GST for tickets up to Rs 100 will benefit single-screen cinemas in small towns. There are certain items that have been exempted from GST which include all unprocessed cereals like rice, wheat, etc., all unprocessed milk, vegetables, meat,fish, etc , education, healthcare (but not medicines), hotels, lodges with room rent less than Rs 1,000, kid’s colouring /drawing books etc.

    Which of the following statement is true with respect to the passage?

    Options :-

    1. GST will promote indigenous industries in the country.
    2. GST will help in the development of rural areas.
    3. The items that have been exempted from GST are only those on which the business of our country thrives mainly.
    4. GST has been excluded from the basic commodities to cut some slack on the bare minimum necessities of life.
    5. GST will enhance the idea and concept of luxury goods in the country.
    Post your Training /Course Enquiry
    Are You looking institutes / coaching center for
    • Bank PO, SSC, Railways
    • Study Abroad
    Select your Training / Study category
Reply To: Direction: Read the given passage carefully and answer the questions that follow.Goods and services….
Your information:

GET UPTO 50%    OFF!
Verify Yourself

Log in with your credentials


Forgot your details?

Create Account