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