The uniform GST rate on MMF man made fibre products 12 recently announced by the Finance Ministry Wh...........

Current GK (SBI-PO) Indian Economy

The uniform GST rate on MMF(man-made fibre) products 12% recently announced by the Finance Ministry. What was the previous GST rate on MMF product?

This questions was previously asked in

SBI PO Prelims (02 Jan, 2022)

14 per cent

11 per cent

18 per cent

12 per cent

28 pert cent

- The GST rate on man-made fibre (MMF) products was previously 18%.

- Option 1: 14 per cent - Incorrect. The GST was never set at this rate.

- Option 2: 11 per cent - Incorrect. Similar to option 1, the GST wasn't set at this rate for MMF.

- Option 3: 18 per cent - Correct. The previous GST rate was 18% before it was reduced to 12%.

- Option 4: 12 per cent - Incorrect as the new rate is 12%, not the previous rate.

- Option 5: 28 per cent - Incorrect. This rate is for luxury and sin goods, not MMF.

Submit Error