Indirect Taxes
Indirect Taxes: Overview
This topic covers concepts, such as Central Excise Duties, CENVAT, Custom Duty, Peak Rate Duty, Anti-Dumping Duty, Counter Varying Duty, Service Tax, and Central Sales Tax.
Important Questions on Indirect Taxes
What is the rate of Countervailing Duty (CVD)?
Service Tax was introduced in India in _____.
Short-term capital gain arising on sale of equity shares outside recognised stock exchange is covered under section_____.
Renting of immovable property is _____.
A tax based on the value of the property/product is called _____.
Goods and Services Tax (GST) would replace which of the following taxes levied at present?
Which of the following is called 'Robinhood Tax' and was in news during recent summit of G20 nations?
Which of the following is/are the central tax(es) replaced by GST?
I. Central Excise Duty.
II. Cesses and surcharges on supply of goods and services.
III. Special Additional Duty of Customs (SAD).
Select the correct answer using the codes given below.
Service tax was introduced in India in the year _____.
Transport of goods by which of the following is free from levy of the Service Tax?
Excise duty is levied on _____.
Modified Value Added Tax (MODVAT) was introduced in
'Sub-prime lending' is a term applied to the loans made to _____.
Most of the Indirect Taxes replaced by _____.
The Goods and Services Tax (GST) proposed to cover taxes like _____.
Which one of the following duties/taxes is the major component of the customs duties in the Indian Economy?
Which of the following statements is incorrect?
A direct tax cannot be shifted to other person. Central direct taxes is/are _____.
Which one of the following items will be subsumed under the Goods and services Tax of India?
“Indian customs waters” means the waters extending into the sea up to:
(a) the limit of Exclusive Economic Zone
(b) 24 NM from baseline
(c) 12 NM from baseline
(d) None of the above
