Q.11)-VAT was firstly implemented in-
  • Germany
  • Spain
  • France
  • Russia
Q.12)- 'Value-added' is equal to-
  • Output Minus the Inputs
  • Reconstruction profit
  • Gross Profit
  • Investment profit
Q.13)-In Centre-State financial relation in India, Gadgil formula is used in-
  • Division of tax revenue
  • Formulation of the policy for fresh borrowings
  • Writing off state's indebtedness to the centre
  • Allocating Central Plan assistance between States
Q.14)-Which authority decides about the states' share in central taxes?
  • Finance Commission
  • Planning Commission
  • Election Commission
  • Finance Ministry
Q.15)-Indirect taxes by nature are-
  • Degressive
  • Regressive
  • Progressive
  • Proportional
Q.16)-Taxation is a tool of-
  • Monetary Policy
  • Fiscal Policy
  • Price Policy
  • Wage Policy
Q.17)-The Fringe Benefit Tax was introduced in the budget of-
  • 2003-04
  • 2004-05
  • 2005-06
  • 2006-07
Q.18)-Which of the following is not the source of the revenue of Central Government?
  • Income Tax
  • Corporate Tax
  • Agricultural Income Tax
  • Excise Duty
Q.19)-The Report of Vijay Kelkar Committee related to-
  • Trade reforms
  • Centre-state financial relations
  • Disinvestment in public sector enterprises
  • Tax reforms
Q.20)-Which of the following taxes is not collected by the Central Government?
  • Income Tax
  • Customs Duty
  • Professional Tax
  • Excise Duty