Tag: public expenditure and public revenue

Questions Related to public expenditure and public revenue

Custom duty is a:

civics public expenditure and public revenue black money and tax evasion meaning of tax direct taxes

  1. Direct tax

  2. Indirect tax

  3. Cooperation tax

  4. Value added tax

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Correct Option: B
Explanation:

Custom Duty is a indirect tax for goods when import or export. The tax is collected by Central Board of Indirect Taxes and Customs.

Excise duty is a:

civics public expenditure and public revenue black money and tax evasion meaning of tax direct taxes

  1. Direct tax

  2. Indirect tax

  3. Cooperation tax

  4. Value added tax

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Correct Option: B
Explanation:

An indirect tax is a tax which is imposed on one person and is paid partly or wholly by another party. This means that the effect or incidence of an indirect tax is not upon the party who pays the tax but on someone else. examples of indirect taxes are value added tax, excise duty, service tax. An excise duty is a type of indirect tax that is levied on the sales of particular goods. This tax is not paid directly by the customer but is passed on to the consumer by a merchant or producer of goods as a part of the price of the product.

Sources of public revenues are:

civics public expenditure and public revenue black money and tax evasion meaning of tax direct taxes

  1. Tax revenues

  2. Non Tax remains

  3. Both Tax and Non-tax revenue

  4. None of the above

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Correct Option: C
Explanation:

A fund raised through the various taxes is referred to as tax revenue. The sources of public revenue consists of both Tax and Non-tax revenue.

The share of indirect taxes in gross tax revenue is in 2009-10.

civics public expenditure and public revenue black money and tax evasion meaning of tax direct taxes

  1. 59%

  2. 41%

  3. 40%

  4. none

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Correct Option: A
Explanation:

The share of indirect taxes was 60% in the fiscal year 2009-10