Question : Which of the following is an indirect tax?
Option 1: Death duty
Option 2: Interest tax
Option 3: Goods and services tax
Option 4: Capital gains tax
Correct Answer: Goods and services tax
Solution : The correct answer is the Goods and services tax.
Goods and services tax (GST) is an indirect tax. It is a consumption-based tax that is levied on the supply of goods and services. Death duty, interest tax and capital gains tax are examples of direct taxes. GST, or Goods and Services Tax, has replaced various other indirect taxes like excise duty, VAT and services tax.
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Option 1: Capital gains tax
Option 2: Excise duty
Option 3: Wealth tax
Option 4: Estate duty
Question : Which of the following taxes is proportional in nature?
Option 1: Capital Gains Tax
Option 2: Income Tax
Option 3: Corporation Tax
Option 4: Goods and Services Tax
Question : The liability to pay the tax and the actual burden of which of the following taxes lie on two different persons?
Option 1: Corporation tax
Option 2: Income tax
Option 3: Capital gains tax
Option 4: Goods and services tax
Question : The Goods and Services Tax (GST) – which has replaced the Central and State indirect taxes such as VAT, excise duty, and service tax in India – was implemented on:
Option 1: 1 July 2017
Option 2: 15 August 2017
Option 3: 15 September 2017
Option 4: 2 October 2017
Question : Which of the following may be classified as a 'Pigouvian tax'?
Option 1: Income tax
Option 2: Carbon tax
Option 3: Corporate tax
Option 4: Long term capital gain tax
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