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Taxation System in India CDS Questions
CDS SYLLABUS
CDS Economy
Economic Growth and National Income
Types of Inflation and Price Stability
Banking and Financial Institutions
Taxation System in India
Types of Deficits and Fiscal Indicators
Types of GDP
Money and Financial System
Economic Systems and Market Structures
Development Indicators
Production, Goods, and Inputs
Agricultural and Non-Agricultural Sectors
Goods and Services Tax (GST) Developments
Foreign Direct Investment (FDI)
Important Economic Curves and Indicators
Current Government Schemes and Initiatives
Taxation System in India MCQ Questions
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1.
Indirect taxes contribute about _____ per cent of the tax revenue.
A.
25
B.
35
C.
45
D.
55
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View Answer
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ANSWER
:
C. 45
2.
What is the major source of Indirect taxes?
A.
Service tax
B.
Value added tax
C.
Gross receipts tax
D.
Excise duty
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ANSWER
:
D. Excise duty
3.
To prevent the cascading effect, _____ was introduced.
A.
Value Added Tax
B.
Service Tax
C.
Gross receipts tax
D.
Excise duty
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ANSWER
:
A. Value Added Tax
4.
_____ is a tax on the value additions at each stage of production rather than on the finished goods.
A.
Estate tax
B.
Value added tax
C.
Property tax
D.
Corporate income tax
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ANSWER
:
B. Value added tax
5.
VAT in Indian economy stands for
A.
Value Added Tax
B.
Value Awareness Tax
C.
Vigilance Awareness Tax
D.
Vigilance Added Tax
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View Answer
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Error
ANSWER
:
A. Value Added Tax
6.
The scheme which allows partial adjustment of duties on capital goods purchased is
A.
Service tax
B.
Value added tax
C.
Modified Value Added Tax
D.
Estate tax
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View Answer
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Error
ANSWER
:
C. Modified Value Added Tax
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