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Economics › GST
The sales tax you pay while purchasing a toothpaste is a
(a)
Tax imposed by the Central Government.
(b)
Tax imposed by the central Government but collected by the State Government.
(c)
Tax imposed by the State Government but collected by the Central Government.
(d)
Tax imposed and collected by the State Government.
(D)
Under which of the following circumstances may ‘capital gains’ arise? 1. When there is an increase in the sales of a product 2. When there is a natural increase in the value of the property owned 3. When you purchase a painting and there is a growth in its value due to increased demand
1 only
2 and 3 only
2 only
1, 2 and 3
(B)
Which one of the following is not a feature of “Value Added Tax”?
It is a multi-point destination-based system of tax.
It is a tax levied on value addition at each stage of transaction in the production distribution chain.
It is a tax on the final consumption of goods or services and must ultimately be borne by the consumer.
It is basically a subject of the Central Government, and the State Governments are only a facilitator for its successful implementation.
In India, which of the following have the highest share in total tax revenue of the Central Government?
Taxes on income
Taxes on commodities and services
Taxes on property and capital gains
Custom duties
Consider the following statements: In India, taxes on transactions in Stock exchanges and futures markets are 1. levied by the Union 2. Collected by the States Which of the statements given above is/are correct?
Both 1 and 2
Neither 1 nor 2
(A)
In India, the tax proceeds of which one of the following as a percentage of gross tax revenue has significantly declined in the last five years?
Service Tax
Personal Income Tax
Excise Duty
Corporation Tax
(C)
Consider the following: 1. Fringe Benefit Tax 2. Interest Tax 3. Securities Transaction Tax Which of the above is/are Direct Tax/Taxes ?
1 and 3 only
1,2 and 3
Which of the following is not a recommendation of the task force on direct taxes under the chairmanship of Dr Vijay L. Kelkar in the year 2002?
Abolition of Wealth Tax
Increase in the exemption limit of personal income to Rs 1.20 lakh for widows
Elimination of standard deduction
Exemption from tax on dividends and capital gains from the listed equity
Economics › Health Indicators
Consider the following countries: 1. Italy 2. Japan 3. Nigeria 4. South Korea 5. South Africa Which of the above countries are frequently mentioned in the media for their low birth rates, or ageing population or declining population?
1,2 and 4*
1,3 and 5
2 and 4 only
3 and 5 only
The total fertility rate in an economy is defined as:
the number of children born per 1000 people in the population in a year.
the number of children born to a couple in their lifetime in a given population.
the birth rate minus death rate.
the average number of live births a woman would have by the end of her child-bearing age.*