GK
TAXES IN INDIA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Service tax is levied in India by following the:
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Selective approach
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Comprehensive approach
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All of the above
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None of these
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Explanation:
Detailed explanation-1: -What is Service Tax? Service Tax was a tax that was levied by the Central Government of India on the services provided by service providers. This indirect tax came into being under the Finance Act, 1994.
Detailed explanation-2: -Entry 97 of List-I of Schedule VII of the Constitution of India extends the constitutional rights to the Central Government to levy service tax. The Government of India, through the Department of Revenue administers the levy and collection of service tax in India.
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