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 luxury items like private planes
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provide goods and services that are needed by the community
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None of the above
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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: -Sales tax: A consumption tax imposed by a government on the sale of goods and services.
Detailed explanation-3: -The Government of India earns tax and non-tax revenues to carry out various functions like providing public goods, implementing welfare schemes related to education and food, and managing the day-to-day functions of the country.
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.