Indian Economy ...

Consider the following statements about the Ad valorem tax
1. Ad valorem tax is a tax based on the value of real estate or personal property
2. Ad valorem tax is Imposed only at the time of a transaction.
Which of the statements given above is/are correct ?

The Goods and Services Tax (GST) proposed to be introduced, covers taxes like _________.

Consider the following statements
1. Libor rates are calculated for ten different currencies in the world capital market.
2. Libor rates are calculated for 15 borrowing periods ranging from overnight to one year in the world capital market.
Which of the statements given above is/are correct ?

 Consider the following
1. Fringe Benefit Tax
2. Interest Tax
3. Securities Transaction Tax
Which of the mentioned above are Direct tax/taxes ?

Consider the following statements
1. Introduction of service tax in India ushers a major structural change indirect taxes in the form of a wider tax base
2. Over the years, there has been an increase in the number of services and the rate of service tax leviable by the Central Government. Which of the statements given above is/are correct ?

Consider the following taxes
1. Personal Income tax
2. Import duty
3. Service tax
Which of the taxes given above Is/are Indirect Tax/Taxes ?

India has experienced persistent and high food inflation in the recent past. What could be the reasons?
1. As a consequence of increasing incomes, the consumption pattern of the people have undergone a significant change.
2. The food supply chain has structural constants.
3. Due to gradual switch over to the cultivation of commercial crops, the area under the cultivation of food grains has steady decreased in the last five years by about 30%.
Which of the statements given above is/are correct ?

Which of the following statements are correct ?
1. Ability to pay principle of taxation holds that the amount of taxes people pay should relate to their income or wealth.
2. The benefit principle of taxation states that individuals should be taxed in proportion to the benefit they receive from government programmes.
3. A progressive tax takes a larger share of tax from poor families that does from rich families.
4. Indirect taxes have the advantage of being cheaper and easier to collect. 
Select the correct answer using the codes given below  

Consider the following statements 
1. In the last five years, the revenue from the direct taxes constitute more than the half of revenue receipts in India.
2. The Corporation Tax constitutes more than 50% of the Direct Tax revenue source of the Central Government.
Which of the statements given above is/are correct ?

Consider the following statements
1. The Cooporate tax is gradually decreased since the liberalisaion of the Indian economy.
2. The rates of the Cooporate tax of the domestic and foreign companies are different.
Which of the statements given above Is/are correct ?