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Service tax is an example of direct tax.

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Important Questions on Financial Planning

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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation
Which of the following may be classified as a 'Pigouvian tax'?
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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation
Which of the following may be classified as a 'Pigouvian tax'?
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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation

Consider the following statements about impact of tax : 

  1. A tax is shifted forward to consumers if the demand is inelastic relative to supply.
  2. A tax is shifted backward to producers if the supply is relatively more inelastic than demand.

Which of the statements given above is/are correct? 

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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation
A person sold an article at a loss of 12%. Had he sold it at a gain of 10.5%, he would have got ₹112.50 more. What is the original selling price (in₹) of the article?
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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation
Ram sold a plot for ₹655000 at 20% loss. For what price should he sell the plot to gain 15% profit?
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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation
The _____ is a tax on the production/manufacture of goods within the country.
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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation
____________ is a type of direct tax which is levied at the time of sale/purchase of securities through the Indian Stock Exchanges.
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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation
Krishi Kalyan cess (0.5%) is effective from which date in 2016?
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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation
A bought an article for ₹4800 and sold it at a loss of 30%. With this amount, he bought another article and sold it at a gain of 60%. What was his overall gain/loss?
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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation
A sales representative will receive a 15% commission on a sale of ₹ 2800. If he has already received an advance of ₹ 150 on that commission, the remaining amount of commission is:
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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation
Shikha purchased a car with a marked price of ₹ 210000 at a discount of 5%. If VAT is charged at the rate of 10%, find the amount Shikha had paid for purchasing the car.
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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation
A man earns ₹20 on the first day and spends ₹15 on the next day. He again earns ₹20 on the third day and spends ₹15 on the fourth day. If he continues to save like this, how soon will be have ₹15 in hand ?
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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation

Karuna bought 10 g of gold for Rs. 15756 including VAT at 1%. What is the rate of gold per 10 g?

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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation
The price of a watch including 8% VAT is ₹810. What is its basic price?
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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation
The sales price of a television, inclusive of VAT, is ₹13,500. If VAT is charged at the rate of 8% of the list price, find the list price of the television.
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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation

Reena bought the following articles from a general store:

(i) 1 tie costing Rs. 250 with ST @ 6%

(ii) Medicines costing Rs. 625 with ST @ 4%

(iii) Cosmetics costing Rs. 430 with ST @ 10%

(iv) Clothes costing Z 1175 with ST @ 8% 

Calculate the total amount to be paid by Reena

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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation
List price of a cooler is ₹2563. The rate of VAT is 10%. The customer requests the shopkeeper to allow a discount in the price of the cooler to such an extent that the price remains ₹2563 inclusive of VAT. Find the discount in the price of the cooler.
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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation
Shruti bought a set of cosmetic items for ₹ 345 including 15% value added tax and a purse for ₹110 including 10% VAT. What percent is the VAT charged on the whole transaction?
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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation

Rajan bought a watch for ₹1870 including VAT at 10%. Find the original price of the watch.

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Mathematics>Algebra>Financial Planning>Levying of Taxes or Taxation

The value of a car including VAT is Rs. 382500. If the basic price of the car be Rs. 340000, find the rate of VAT on a car.