GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is an indirect tax?
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Corporation tax
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Capital gains tax
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Excise duty
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Income tax
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Explanation:
Detailed explanation-1: -The correct answer is Excise Duty.
Detailed explanation-2: -Examples of indirect taxes include sales tax, entertainment tax, excise duty, etc. These are levied on the sellers of goods or the providers of service, where it is passed on to the end consumer in the form of service tax, excise duty, entertainment tax, custom duty etc.
Detailed explanation-3: -Capital Gains Tax: It is a form of direct tax that is paid due to the income that is earned from the sale of assets or investments.
There is 1 question to complete.