Taxes belong to Central Government?

Taxes belong to Central Government?
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Excise duty, Custom duty and Income tax
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Taxes are as certain as the death, because (1) They constitute the major source of government revenue. (2) Government have no other source of revenue. (3) Most PSUs are run inefficiently. (4) Government has its own budget constraints.

Description : Taxes are as certain as the death, because (1) They constitute the major source of government revenue. (2) Government have no other source of revenue. (3) Most PSUs are run inefficiently. (4) Government has its own budget constraints.

Last Answer : They constitute the major source of government revenue.

Taxes on professions can be levied by : (1) State government only (2) both by state and union government (3) by panchayats only (4) Union government only

Description : Taxes on professions can be levied by : (1) State government only (2) both by state and union government (3) by panchayats only (4) Union government only

Last Answer : State government only

What is Value Added Tax (VAT) ? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods

Description : What is Value Added Tax (VAT) ? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A ... like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods 

Last Answer : A single tax that replaces State taxes like, surcharge, turnover tax, etc.