Understanding Indirect Taxes: Taxation Essentials
10 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Who bears the final burden of tax according to the text?

  • Government
  • Businesses
  • Taxpayers (correct)
  • Consumers
  • Which article of the Indian Constitution deals with the distribution of legislative powers including taxation?

  • Article 246 (correct)
  • Article 245
  • Article 250
  • Article 247
  • What does List I in the Indian Constitution contain?

  • Matters only under State Government's power
  • Matters only under Central Government's power (correct)
  • No tax matters covered
  • Matters under both Central and State Governments' power
  • Who has the exclusive power to lay down rules for matters in List II?

    <p>State Legislatures</p> Signup and view all the answers

    What is the purpose of List III in the Indian Constitution?

    <p>To distribute legislative powers between Centre and states</p> Signup and view all the answers

    Which type of tax cannot be passed on to any other person?

    <p>Direct tax</p> Signup and view all the answers

    Who pays indirect taxes in India indirectly?

    <p>Suppliers</p> Signup and view all the answers

    Which of the following is a major indirect tax in India?

    <p>Customs</p> Signup and view all the answers

    When are indirect taxes payable in relation to goods and services?

    <p>Before the goods/services reach the tax payer</p> Signup and view all the answers

    What type of taxes are mainly based on consumption of goods and services?

    <p>Indirect taxes</p> Signup and view all the answers

    More Like This

    Indirect Taxes Quiz
    3 questions

    Indirect Taxes Quiz

    DiligentThunderstorm avatar
    DiligentThunderstorm
    Disadvantages of Indirect Taxes Quiz
    18 questions
    Indirect Taxes Quiz
    32 questions

    Indirect Taxes Quiz

    SlickSaxophone avatar
    SlickSaxophone
    Indirect Taxes and GST Overview
    5 questions
    Use Quizgecko on...
    Browser
    Browser