BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Make politicians rich
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Pay for their employees
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Pay for services that some of the population use
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Provide goods and services that are needed by the community
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Detailed explanation-1: -Taxes are used by the government for carrying out various welfare schemes including employment programmes. There are Lakhs of employees in various departments and the administrative cost has to be borne by the Government.
Detailed explanation-2: -GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage.
Detailed explanation-3: -Sales tax: A consumption tax imposed by a government on the sale of goods and services.
Detailed explanation-4: -What Is a Direct Tax? A direct tax is a tax that a person or organization pays directly to the entity that imposed it. Examples include income tax, real property tax, personal property tax, and taxes on assets, all of which are paid by an individual taxpayer directly to the government.