Q.41)-Ad Valorem tax is levied-
- According to value added by the government
- According to value addition to a commodity
- According to value given by producers
- According to value added by the Finance ministry
Q.42)-State which amongest the following is not true about VAT
- All States have uniform vait for the same product
- State have discreation to fix the rate of tax within the four rates prescribed
- It will promote production efficiency of investments
- It will make our exports more competitive
Q.43)-Which amidest the following taxes collected by the Union is NOT mandated to be assigned to the States?
- Terminal taxes on goods or passengers carried by railway, sea or air
- Taxes on railway fares and freights
- Taxes on consignment of goods
- Service Tax
Q.44)-Among the tax revenues of the Union Government, what is the largest source?
- Income Tax
- Corporation tax
- Central Excise
- Customs Duty
Q.45)-The largest source of revenue to the Union Government is-
- Income Tax
- Central Excise Duty
- Customs Duty
- Wealth Tax
Q.46)-The Government of India derives its single largest source of revenue from-
- Direct Taxes
- Customs Duties
- Deficit Financing
- Union Excise Duties
Q.47)-For which tax, was constitutional status given much later after its introduction in a small way in 1994-95?
- Custom Duty
- Coporation Tax
- Taxes on Services
- Income tax
Q.48)-Indirect tax means:
- There is no direct relationship between the tax payer and the government
- Direct relationship between tax payer and the government
- Tax base is income
- The incidence and impact are on the same person on whom tax is imposed
Q.49)-The incidence ofsales tax falls on-
- Consumers
- Wholesale
- Retail dealers
- Producers
Q.50)-The 'Canons to Taxation' were prpounded by-
- Edwin Canon
- Adam Smith
- J.M. K eynes
- Dalton
