FUNDAMENTALS OF COMMERCE UNIT-4

Contents

#1. Notifications issued by CBDT are binding on.

#2. A person includes.

#3. Sales Tax is an example of ---

#4. What are the taxes levied on an intra-State supply?

#5. Property tax is levied on ---

#6. Which Entry of Union List gives the power to Parliament to levy tax on incomes?

#7. Income Tax is imposed by.

#8. Finance Bill becomes the Finance Act when it is passed by.

#9. Which of the following taxes have been subsumed in GST?

#10. IGST is payable when the supply is........

#11. GST is an example of ---

#12. Which of the following is the minimum source of government earning from tax revenue?

#13. Income Tax Act contains schedules.

#14. Assessment year is the period of 12 months commencing from....................... Every year.

#15. There are .....................heads of income

#16. Which of the following is a direct tax?

#17. Income Tax Act contains sections

#18. Inflation of a country is controlled through ---

#19. The Central Board of Indirect Taxes and Customs (CBIC) is formerly known as -

#20. Excise duty is an example of ---

#21. Which of the following tax is imposed by the Central Government, but the state government collects it?

#22. Circulars are issued by the CBDT to the scope & meaning of the provisions of Law.

#23. Which of the following are benefits of GST?

#24. The basic source of income-tax law is.

#25. Aggregate turnover does not include-

#26. Which of the following taxes will be levied on imports?

#27. Sales tax is levied on ---

#28. A municipal corporation legally entitled to manage & control a municipal fund is taxable in the status of:

#29. The IGST Act, 2017 extends to the

#30. Who will notify the rate of tax to be levied under the CGST Act?

#31. GST is a comprehensive tax regime covering _________

#32. Amendments by the finance act are made applicable from

#33. Which of the following is a direct tax?

#34. Wealth Tax is an example of ---

#35. Inflation of a country is controlled through ---

#36. Goods and Service Tax (GST) is levied on ---

#37. Income tax is levied on ---

#38. Which of the following is a form of Indirect tax?

#39. Maximum rate of CGST prescribed by law for intrastate supply made is.......

#40. The period of 12 months commencing on the 1st day of April every year is known as

#41. Association of persons consists of.

#42. Income-tax Act, 1961 applies to.

#43. Who is the assessee in the case of an HUF?

#44. Capital gain tax is levied on ---

#45. Every assessee is a person, & every person is.

#46. Which of the following is the major source of government earning from tax?

#47. Under which type of tax is the taxation amount collected shared between the centre and the states?

#48. The Finance commission is appointed at the expiry of ---- years.

#49. Among the following _________________ is empowered to levy tax on agricultural income.

#50. Which of the following is not central government revenue?

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Results

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