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प्रश्न
What is Goods and Service Tax?
संक्षेप में उत्तर
उत्तर
- Goods and Services Tax is a kinds of tax imposed on sale, manufacturing and usage of goods and services.
- This tax is applied on services and goods at a national level with a purpose of achieving overall economic growth.
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Types of Taxes
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संबंधित प्रश्न
Match the following:
| 1. | Principle of taxation | Direct Tax |
| 2. | Estate tax | Goods and Service Tax |
| 3. | Excise Tax | Adam Smith |
| 4. | 01.07.2017 | Less elastic |
| 5. | Direct Tax | Indirect Tax |
______ was the first country to implement GST in 1954.
Write about stamp duty.
______ was a multi-point tax.
______ constituted under the Central Board of Revenue Act, 1963.
Match the following
| 1. | Proportional Taxation | a. | Transparent taxa |
| 2. | Entertainment | b. | Roads and bridges |
| 3. | GST | c. | Royalties |
| 4. | Toll tax | d. | Size of the income |
| 5. | Corporation tax | e. | Movie tickets |
Write a short note a corporation tax.
Excise tax in India ______ is levied by the Central Government.
The tax whose rate remains unchanged irrespective of the income of the taxpayer is called as ______.
The income tax slab rates are given below. Explain the types of taxation represented in slab 3 and slab 4.
- upto Rs. 1,60,000 = No tax.
- Rs. 1,60,001 to Rs. 5,00,000 = 10%
- Rs. 5,00,001 to Rs. 8,00,000 = 20%
- Above Rs. 8,00,000 = 30%
