Tax System – Test 1

Which of the following is an Indirect tax?

Modvat was introduced in India in union budget of ——

Wealth Tax on annual basis was introduced in ———-

VAT was introduced in 1999 and was implemented in ———- some states.

Highest Tax revenue is earned by ——-

CENVAT is related to ——–

Income Tax in India is ——— in nature

CENVAT was introduced in ————–

Service tax was introduced in ———-

Which one is the merit of VAT?

What is the nature of Income Tax?

Weakness of tax system in India

Fringe Benefit tax came in ———-

When was Patent Infringement Act passed?

Which proves to be a heavy tax on lower section of people?

Excise duty is levied on ———–

As MODVAT had defects so it was ———–

Custom duties are levied ————

VAT is levied by ———–

The proceeds of personal income tax are shared between the centre and state on the recommendation of ———–

State which of the following income is wholly exempt from the income tax?

Corporate tax is levied on the incomes of ———–

Direct taxes are ———— in nature.

Direct taxes being progressive in nature, helps to ———–

In which year, income tax was first introduced in India?

Which taxes are imposed by State Government ?

Which of the following taxes enter into the price?

Personal income tax is levied on ———-

Which of the following is direct tax?

Among the following which is Indirect Tax?