1. Which of the following sets belong to Central tax?
Question Asked : SSC Tax Assistant (Income Tax & Central Excise) Exam 2005
(A) Excise duty, Sales tax and Customs duty
(B) Excise duty, Customs duty and Income tax
(C) Income tax, Customs duty and House tax
(D) Customs duty, Entertainment tax and Income tax
2. Which of the following is the most important domestic source of planned finance?
Question Asked : SSC Section Officer (Commercial Audit) Exam 2005
(A) Balance of current revenue
(B) Profit from public sector units
(C) Domestic private savings
(D) Additional taxation
3. Inflation is caused by
Question Asked : SSC Combined Graduate Level 2004
(A) Increase in supply of goods
(B) Increase in cash with the government
(C) Decrease in money supply
(D) Increase in money supply
4. Which amidst the following taxes collected by the Union is NOT mandated to be assigned to the States?
Question Asked : SSC Combined Graduate Level Prelim Exam 2004
(A) Terminal taxes on goods or passengers carried by railway, sea or air.
(B) Taxes on railway fares and freights.
(C) Taxes on consignment of goods.
(D) Service Tax.
5. The receipts of which of the following taxes/duties are not shared with the States?
Question Asked : SSC Section Officer (Audit) Exam 2003
(A) Tax on income except agriculture
(B) Corporation tax
(C) Surcharge on income tax
(D) Capital gain tax
6. In estimating the budgetary deficit the official approach in India is to exclude
Question Asked : SSC CPO Sub-Inspector Exam 2003
(A) long term borrowing from the market
(B) borrowings from the Reserve Bank of India
(C) drawing down of the cash balance
(D) borrowing from Reserve Bank in the form of ways and means advance
7. How does the consumer benefit with VAT?
Question Asked : SSC CPO Sub-Inspector Exam 2003
(A) It removes tax on tax and thus reduces prise-rise
(B) Reduces the cost of production
(C) With the abolition of the sales tax
(D) Due to the exemption of small businesses from the tax within certain limits prescribed by the State
8. The proceeds of income tax go to
Question Asked : SSC CPO Sub-Inspector Exam 2003
(A) Central Government
(B) State Government
(C) Centre and States
(D) Corporation authorities
9. The main source of revenue for a State Government in India is
Question Asked : SSC CPO Sub-Inspector Exam 2003, SSC Combined Matric Level (Pre) Exam 2002
(A) Sales tax
(B) Excise duty
(C) Income tax
(D) Property tax
10. Which authority recommends the principles governing the grants-in-aid of the revenues of the states out of the Consolidated Fund of India?
Question Asked : SSC Section Officer (Audit) Exam 2001
(A) Public Accounts Committee
(B) Union Ministry of Finance
(C) Finance Commission
(D) Inter-State Council
