BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Estate duty
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Sales Tax
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Wealth Tax
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Corporation Tax
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Detailed explanation-1: -The correct answer is Sales Tax. Sales tax is an indirect tax.
Detailed explanation-2: -Direct taxes include income taxes, property taxes, and taxes on assets. There are also indirect taxes, such as sales taxes, wherein a tax is levied on the seller but paid by the buyer.
Detailed explanation-3: -Income tax, corporation tax, property tax, inheritance tax and gift tax are examples of direct tax.
Detailed explanation-4: -Answer: GST is one indirect tax for the whole nation, which will make India one unified common market. GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer.
Detailed explanation-5: -Detailed Solution. The correct answer is MAT. Minimum Alternate Tax (MAT) is a provision in direct tax laws.