Which of the following does NOT come under the purview of 'paper taxes'?
Excise tax
The correct answer is Excise tax.
Potential for tax evasion or avoidance through asset transfer or hiding. Possible negative impacts on capital formation or encouraging capital flight. Administrative complexity and high collection costs relative to revenue generated. Excise taxes, on the other hand, are generally seen as easier to collect as they are levied at specific points in the production or supply chain (e.g., factory gate, import point) and are included in the price paid by the consumer.
Important Questions from Goods and Services Tax (GST)
Which amendment introduced Goods and Service Tax (GST)?
_______ is a tax imposed on imports and exports of goods.
Which of the following is correct with respect to GST in India?
I. The GST Act was passed by the Parliament in 2016.
II. GST law came into force from July 2016.
What is the name of the all-India tax passed by the parliament in 2017?
Which was the first State in India to pass the GST bill?
