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Sales Tax is

  • Direct Tax
  • Indirect Tax
  • Tax imposed by central government
  • Tax imposed by state government

Answer: Option B

Explanation:

Direct Taxes are : Income Tax, Property Tax, Gift Tax etc.

Indirect Taxes are : Sales Tax, Excise Tax, Custom Duty etc.

Similar Questions :

1. In India paper currency started in ?

  • 1860
  • 1861
  • 1862
  • 1863

Answer: Option B

2. Imperial Bank of India was old name of ?

  • State Bank of India
  • United Bank of India
  • Central Bank of India
  • Punjab National Bank

Answer: Option A

3. Exise duty is imposed on

  • Sale of an item
  • Production of an item
  • Consumption of an item
  • All of above

Answer: Option B

Explanation:

Exise duty is imposed on Production of an item so it is a commodity tax.

4. First five year plan in India was from

  • 1947 - 1952
  • 1949 - 1954
  • 1950 - 1955
  • 1951 - 1956

Answer: Option D

5. Life Insurance Corporation (LIC) of India was established in ?

  • 1955
  • 1956
  • 1957
  • 1958

Answer: Option B

Explanation:

Life Insurance Corporation (LIC) of India was established in September 1956.

Read more from - Indian Economy Questions Answers
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