General Knowledge - Indian Economy - Discussion
Discussion Forum : Indian Economy - Indian Economy (Q.No. 54)
54.
The annual yield from which of the following Union Government taxes is the highest?
Discussion:
11 comments Page 1 of 2.
Ravi said:
1 decade ago
Excise duties are 16%
Gulshan said:
1 decade ago
What is excise duty?
Suvo said:
1 decade ago
Corporate tax has more contribution then excise duties where income tax has less. So what would be correct answer?
Suvo said:
1 decade ago
Corporate tax has more contribution then excise duties where income tax has less. So what would be correct answer?
Gaurav said:
1 decade ago
This is a wrong answer. The share of direct taxes is way more as compared to indirect taxes. Corporate tax accounts of approx. 36% of the total tax revenues whereas excise amounts to just 17%.
Divyesh said:
1 decade ago
It is right answer because question asks annual yield from tax.
It is Union Excise Duty.
It is Union Excise Duty.
Murali said:
1 decade ago
Answer is wrong. Highest share is in this way.
Corporate tax > income tax > service and other tax > custom > excise.
So corporate and income tax combined is much higher than excise duties.
Corporate tax > income tax > service and other tax > custom > excise.
So corporate and income tax combined is much higher than excise duties.
Tuks said:
1 decade ago
Current scenario is Corporate tax > income tax > excise tax > custom = service tax and numerically 20 > 14 > 10 > 9 = 9 respectively. They are bound to change as time passes.
Raaz said:
10 years ago
Corporate tax is the right answer. For detail clarification go to the current status of Indian tax.
Ashish prajapati said:
9 years ago
Excise duty is a duty levied on goods manufactured or produced in India which is mentioned in central excise tariff act 1985. Excise act is governed by central excise act 1944.
Duty is generally levied on movable and marketable goods manufactured in India.
Duty is generally levied on movable and marketable goods manufactured in India.
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