Description : What is the main aim of Special Economic Zones (SEZ) developed by the Government of India ? -SST 10th
Last Answer : To attract foreign companies to invest in India
Description : Which of the following sets belongs to Central tax? (1) Excise duty, Sales tax and Custom duty (2) Excise duty, Custom duly and Income tax (3) Income tax, Custom duty and House, Lax (4) Custom duty, Entertainment tax and Income tax
Last Answer : (2) Excise duty, Custom duly and Income tax Explanation: The Central Indian Government that is officially named as the "Union Government" is responsible for the imposition of both direct taxes as ... and Securities Transaction Tax. The indirect taxes are: Customs Duty; Excise Duty and Service Tax.
Description : The duties levied on alcoholic liquors, narcotic drugs and opium come under— (1) Central Excise Duty (2) Land Revenue (3) State Excise Duty (4) General Sales Tax
Last Answer : (3) State Excise Duty Explanation: An excise or excise tax (sometimes called an excise duty) is a type of tax charged on goods produced within the country (as opposed to customs ... paper, drugs and pharmaceuticals, alcoholic liquor, water filtration and purification devices, pan masala, etc.
Last Answer : Central Excise Duty
Description : Which of the following sets belongs to Central tax ? (1) Excise duty, Sales tax and Custom duty (2) Excise duty, Custom duty and Income tax (3) Income tax, Custom duty and House tax (4) Custom duty, Entertainment tax and Income tax
Last Answer : Excise duty, Custom duty and Income tax
Description : Which one of the following is NOT an example of indirect tax? (1) Sales tax (2) Excise duty (3) Customs duty (4) Expenditure tax
Last Answer : (4) Expenditure tax Explanation: Expenditure tax is a taxation plan that replaces the income tax (a direct tax). Instead of applying a tax based on the income earned, tax is allocated based on the ... a consumption tax. The major benefit for this type of tax scheme is the removal of double taxation.
Description : Tax on inheritance is called - (1) Excise duty (2) Estate duty (3) Gift tax (4) Sales tax
Last Answer : (2) Estate duty Explanation: Estate duty is a tax on the total market value of a person's assets at the date of his or her death. The deceased person's assets, as a whole, are called an ... on assets that legal heirs inherit, while estate duty is applicable on the assets of those who are dead.
Description : Which of the following is the tax calculated on the sales value of the goods ? 1. Custom tax 2. Excise duty 3. Invention cost 4. Reimbursement Duty 5. Ad valorem tax
Last Answer : Ad valorem tax
Last Answer : Expenditure tax
Description : Tax on inheritance is called (1) Excise duty (2) Estate duty (3) Gift tax (4) Sales tax
Last Answer : Estate duty
Description : Which of the following taxes is not collected by the Central Government? (1) Income tax (2) Customs duty (3) Professional tax (4) Excise duty
Last Answer : (3) Professional tax Explanation: A professional tax, also known as an occupation tax or a professional privilege lax, is a tax that a professional must pay to receive the right to practice a ... and a professional who has clients in more than one state may owe professional taxes in several states.
Description : Which of the following taxes is not collected by the Central Government ? (1) Income tax (2) Customs duty (3) Professional tax (4) Excise duty
Last Answer : Professional tax
Description : A Credit Bureau is governed by _________ A. Securities and Exchange Board of India Act, 1992 B. Reserve Bank of India Act, 1934 C. Banking Regulation Act, 1949 D. Securities and Exchange ... of India (Credit Rating Agencies) Regulations, 1999 E. Credit Information Companies (Regulation) Act of 2005
Last Answer : E. Credit Information Companies (Regulation) Act of 2005 Explanation: A Credit Bureau is governed by the Credit Information Companies (Regulation) Act of 2005.
Description : Special Economic Zone (SEZ) concept was first introduced in - (1) China (2) Japan (3) India (4) Pakistan
Last Answer : (1) China Explanation: Worldwide, the first known instance of an SEZ seems to have been an industrial park set up in Puerto Rico in 1947 to attract investment from the US mainland. In the ... the 1980s China made the SEZs gain global currency with its largest SEZ being the metropolis of Shenzhen.
Description : Special Economic Zone (SEZ) concept was first introduced in (1) China (2) Japan (3) India (4) Pakistan
Last Answer : China
Description : Which confectionary giant was slapped with a notice demanding 250 crore Rupees by the Directorate General of Central Excise Intelligence on the grounds of excise duty evasion? a) Cadbury India Ltd b) Wrigley India c) Lotte India d) Perk India Ltd
Last Answer : Answer: (a) Cadbury India Ltd
Description : Among the tax revenues of the Union Government, the most important source is – (1) Income Tax (2) Customs Duty (3) Corporation Tax (4) Union Excise Duties
Last Answer : (4) Union Excise Duties Explanation: Central excise revenue is the biggest single source of revenue for the Government of India. The Union Government tries to achieve different socio-economic objectives by ... adopted by entry 84 of List I of the seventh Schedule of the Constitution of India.
Description : Which of the following is an indirect tax? (1) Capital Gains Tax (2) Excise Duty (3) Wealth Tax (4) Estate Duty
Last Answer : (2) Excise Duty Explanation: Some examples of indirect taxes include value added tax, excise duty, sales tax, stamp duty and custom duty levied on imports. These are taxes levied by the slate on expenditure and consumption, but not on property or income.
Description : Which of the following is an indirect tax ? (1) Capital Gains Tax (2) Excise Duty (3) Wealth Tax (4) Estate Duty
Last Answer : Excise Duty
Description : SMERA has been registered under _______ A. Securities and Exchange Board of India Act, 1992 B. Reserve Bank of India Act, 1934 C. Banking Regulation Act, 1949 D. Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999 E. None of these
Last Answer : D. Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999 Explanation: SMERA has been registered under Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999.
Description : Which of the following taxes is exclusively and totally assigned to the Central Government by the Constitution? (1) Estate Duty (2) Sales Tax (3) Taxes on Railway Fares and Freights (4) Corporation Tax
Last Answer : (4) Corporation Tax Explanation: The authority to levy a tax is derived from the Constitution of India which allocates the power to levy various taxes between the Centre and the State. Article ... taxes on capital of companies; estate duty in respect of property other than agricultural land, etc.
Description : Which of the following taxes are levied and collected by the centre but their net proceeds are wholly transferred to states? (1) Expenditure Tax and Gift Tax (2) Additional Duties of Excise in lieu of Sales Tax (3) Stamps and Registration (4) Taxes on Advertisement
Last Answer : (4) Taxes on Advertisement Explanation: Apart from taxes levied and collected by the States, the Constitution has provided for the revenues for certain taxes on the Union List to be allotted ... exchanges and future markets; and Taxes on sale and purchase of newspapers and advertisements therein.
Description : Which one of the following is a direct tax? (1) Sales Tax (2) Excise Tax (3) Wealth Tax (4) Entertainment Tax
Last Answer : (3) Wealth Tax Explanation: Direct tax is a tax levied directly on the person or company that has to pay it. These taxes are paid directly to the tax authority.
Description : Which of the following taxes are levied and collected by the centre but their net proceeds are wholly transferred to states ? (1) Expenditure Tax and Gift Tax (2) Additional Duties of Excise in lieu of Sales Tax (3) Stamps and Registration (4) Taxes on Advertisement
Last Answer : Taxes on Advertisement
Description : Which one of the following is a direct tax ? (1) Sales Tax (2) Excise Tax (3) Wealth Tax (4) Entertainment Tax
Last Answer : Wealth Tax
Description : For expanding access to banking services, the RBI has advised banks to open branches with minimum infrastructure support of 8 to 10BC units at a reasonable 3-4km. Such branches are known as _______ A. White Label ATMs B. Ultra Small Branches C. Banking Kiosks D. CBS Terminals E. ICT Hubs
Last Answer : B. Ultra Small Branches Explanation: Ultra Small Branches may be set up between the base branch and BC locations so as to provide support to about 8-10 BC Units at a reasonable distance ... for operating large customer transaction and would have to be managed full time by bank officers/ employees.
Description : A collection of non-bank financial intermediaries that provide services similar to traditional commercial banks is known as _________ A. Off-shore Banking B. Investment Banking System C. Shadow Banking System D. Conventional Banking E. Merchant Banking System
Last Answer : C. Shadow Banking System Explanation: A shadow banking system refers to the financial intermediaries involved in facilitating the creation of credit across the global financial system but ... oversight. The shadow banking system also refers to unregulated activities by regulated institutions.
Description : A commission or fee paid, when an agent or an individual sells an investment such as mutual funds or annuity is known as _________ A. Redemption fee B. Service Charge C. Regressive tax D. Sales tax
Last Answer : A. Redemption fee Explanation: A mutual fund redemption fee, also referred to as a -market timing fee , or -short-term trading fee , is a charge by a mutual fund company to discourage investors from ... (i.e. a purchase, typically a transfer, followed by a sale within a short period of time).
Description : In which season is the frequency of tropical cyclones in the Bay of Bengal maximum? [I. Tax & Central Excise 1991] (a) During monsoon (b) After summer (c) During winter (d) During autumn
Last Answer : Ans: (b)
Description : Which one of the following rivers is not the tributary of Ganga ? [I. Tax & Central Excise 1993] (a) Indrawati (b) Son (c) Gomati (d) Yamuna
Last Answer : Ans: (a)
Description : The Eastern Coast of India is known as : [I.Tax & Central Excise 1992] (a) Eastern Plateau (b) Bengal Coast (c) Coromandal Coast (d) Cyclonic Coast
Last Answer : Ans: (c)
Description : Maharashtrian Plateau is made up of: [I. Tax & Central Excise 1992] (a) alluvial soil (b) coral reef (c) sandstone (d) lava
Last Answer : Ans: (d)
Description : The excise duty on a certain item has been reduced to Rs 760 from Rs 950. Find the reduction per cent in the excise duy on that item. -Maths
Last Answer : answer:
Description : In which of the following types of banking, there is a direct execution of transaction between a bank and its consumers? A. Retail Banking B. Universal Banking C. Virtual Banking D. Unit Banking E. other than those given as options
Last Answer : A. Retail Banking Explanation: Retail banking also known as Consumer Banking is the provision of services by a bank to individual consumers, rather than to companies, corporations or other ... include savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards.
Description : What are Special Economic Zones (SEZs)? Write the characteristics of Special Economic Zones (SEZs) -Geography
Last Answer : Special Economic Zone - Definition An SEZ is an enclave within a country that is typically duty-free and has different business and commercial laws chiefly to encourage investment and create employment.Apart ... with the SEZ Rules in 2006.However, SEZs were operational in India from 2000 to 2006
Description : What are the Special Economic Zones (SEZs) ? -SST 10th
Last Answer : SEZs or Special Economic Zones are industrial areas with world class facilities. (i) Companies who set-up units in SEZs are exempted from tax for 5 years. (ii) They are set-up to attract foreign investment.
Description : Of the following land uses, which is restricted to Special Economic Zones ? (1) Educational Institutions (2) Free trade Centres (3) Marketing Centres (4) Information Technology Companies
Last Answer : (2) Free trade Centres Explanation: The category Special economic zone includes free trade zones (FTZ), export processing Zones (EPZ), free Zones (FZ), industrial parks or industrial estates (IE) ... zones. The goal of a SEZ structure is to increase foreign direct investment by foreign investors.
Last Answer : Free trade Centres
Description : What is excise duty ?
Last Answer : The tax levied on goods produced and used within the country is called excise duty. Apart from revenue collection, excise duty is also levied for the purpose of reducing consumption of various harmful products ... , tobacco , kerosene , medicines , spirits , matches , alcohol , cannabis , opium etc.
Last Answer : Excise duty is the duty that has to be paid to a specific department of the government for conducting drug related business.
Description : Excise duty on a commodity is payable with reference to its - (1) production (2) production and sale (3) production and transportation (4) production, transportation and sale
Last Answer : (1) production Explanation: An excise or excise tax (sometimes called a duty of excise special tax) is an inland tax on the sale, or production for sale, of specific goods or a tax ... customs duties, which are taxes on importation. Excises are inland taxes, whereas customs duties arc border taxes.
Description : Excise duty on a commodity is payable with reference to its - (1) production (2) production and sale (3) production and transportations (4) production, transportation and sale
Last Answer : (1) production Explanation: Excise duty is a type of tax charged on goods produced within the country. In India, an excise tax is levied on the manufacturer of goods when those goods leave the place ... called the Central Excise duty, this tax is now known as the Central Value Added Tax (CENVAT).
Description : Excise duty is levied on - (1) sale of goods (2) production of goods (3) import of goods (4) export of goods
Last Answer : (2) production of goods Explanation: Excise duty is a tax on manufacture or production of goods. Excise duty on alcohol, alcoholic preparations, and narcotic substances is collected by the State Government and ... "State Excise" duty. The Excise duty on rest of goods is called "Central Excise" duty.
Description : An imposition of excise duty would effect the demand of a product due to ………….. (a) Income effect ; (b) Substitution effect ; (c) Both ; (d) None
Last Answer : (c) Both ;
Description : A levy of excise duty on consumption of an item consumed will .. (a) Induce suppliers to pump in more quantity in the market; (b) Result in fall in the consumption of the commodity ... by the consumer ; (c) Lead to inflationary conditions ; (d) Place the consumer on lower indifference curve
Last Answer : (d) Place the consumer on lower indifference curve
Description : Which of these would lead to decrease in quantity supplied at a given price (a) Decrease in VAT ; (b) Decrease in excise duty; (c) Decrease in import duty ; (d) Imposition of higher levies
Last Answer : (d) Imposition of higher levies
Description : Which of these would lead to increase in quantity supplied at a given price (a) Increase in VAT ; (b) Increase in excise duty ; (c) Increase in import duty ; (d) Reduction in levies
Last Answer : (d) Reduction in levies
Description : Excise duty on a commodity is payable with reference to its (1) production (2) production and sale (3) production and transportations (4) production, transportation and sale
Last Answer : production
Description : Excise duty is levied on (1) sale of goods (2) production of goods (3) import of goods (4) export of goods
Last Answer : production of goods
Description : The rules framed in the Clayton‟s case have been incorporated in _________ A. Banking Regulation Act, 1949 B. Reserve Bank of India Act, 1934 C. Negotiable Instruments Act, 1881 D. Indian Contract Act, 1872 E. None of the Above
Last Answer : D. Indian Contract Act, 1872 Explanation: The rules framed in the Clayton‘s case was incorporated in Section 59 of the Indian Contract Act, 1872.