GK
TAXES IN INDIA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Consider the following statements and identify the right ones.
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Central government does not have exclusive power to impose tax which is not mentioned in state or concurrent list.
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The constitution also provides for transferring certain tax revenues from union list to states.
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All of the above
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None of these
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Explanation:
Detailed explanation-1: -The correct answer is Corporate tax. The most important source of revenue for the Central Government is Corporate tax.
Detailed explanation-2: -The correct answer is Sales tax. The principal source of States own tax revenues is sales tax which accounts for about 60 per cent of the total.
There is 1 question to complete.