Current Affairs Exam > Current Affairs Questions > Which of the following duty is levied and col...
Start Learning for Free
Which of the following duty is levied and collected by the Union government? a. Custom duty b. Excise duty c. Estate duty d. All the above?
Most Upvoted Answer
Which of the following duty is levied and collected by the Union gover...
Answer:
Duty levied and collected by the Union government:
The Union government of India is responsible for levying and collecting various types of taxes and duties. One of the major types of duty levied and collected by the Union government is the customs duty.
Custom Duty:
Custom duty is a type of tax levied on goods that are imported or exported from one country to another. The customs duty is levied based on the value of the goods, and it is collected by the customs department of the Union government. The customs duty is an important source of revenue for the government, and it is levied on a wide range of goods, including:
- Raw materials
- Capital goods
- Consumer goods
- Intermediate goods
- Petroleum products
Excise Duty:
Excise duty is another type of tax levied and collected by the Union government. It is levied on goods that are produced or manufactured within the country. The excise duty is levied based on the value of the goods or the quantity of the goods produced. The excise duty is also an important source of revenue for the government, and it is levied on a wide range of goods, including:
- Tobacco products
- Alcoholic beverages
- Petrol and diesel
- Cement
- Automobiles
Estate Duty:
Estate duty is a type of tax levied on the transfer of property or assets from one person to another after the death of the owner. However, estate duty was abolished in India in 1985.
Conclusion:
In conclusion, the Union government of India is responsible for levying and collecting various types of taxes and duties, including customs duty and excise duty. These duties are an important source of revenue for the government and are levied on a wide range of goods. However, estate duty was abolished in India in 1985.
Duty levied and collected by the Union government:
The Union government of India is responsible for levying and collecting various types of taxes and duties. One of the major types of duty levied and collected by the Union government is the customs duty.
Custom Duty:
Custom duty is a type of tax levied on goods that are imported or exported from one country to another. The customs duty is levied based on the value of the goods, and it is collected by the customs department of the Union government. The customs duty is an important source of revenue for the government, and it is levied on a wide range of goods, including:
- Raw materials
- Capital goods
- Consumer goods
- Intermediate goods
- Petroleum products
Excise Duty:
Excise duty is another type of tax levied and collected by the Union government. It is levied on goods that are produced or manufactured within the country. The excise duty is levied based on the value of the goods or the quantity of the goods produced. The excise duty is also an important source of revenue for the government, and it is levied on a wide range of goods, including:
- Tobacco products
- Alcoholic beverages
- Petrol and diesel
- Cement
- Automobiles
Estate Duty:
Estate duty is a type of tax levied on the transfer of property or assets from one person to another after the death of the owner. However, estate duty was abolished in India in 1985.
Conclusion:
In conclusion, the Union government of India is responsible for levying and collecting various types of taxes and duties, including customs duty and excise duty. These duties are an important source of revenue for the government and are levied on a wide range of goods. However, estate duty was abolished in India in 1985.
Community Answer
Which of the following duty is levied and collected by the Union gover...
Option (d)is correct
All the direct taxes are imposed by central government. Direct tax are;income tax, wealth tax and corporation tax.
Excise and custom duty were indirect tax but merged with GST.
All the direct taxes are imposed by central government. Direct tax are;income tax, wealth tax and corporation tax.
Excise and custom duty were indirect tax but merged with GST.
|
Explore Courses for Current Affairs exam
|
|
Similar Current Affairs Doubts
Top Courses for Current AffairsView all
Which of the following duty is levied and collected by the Union government? a. Custom duty b. Excise duty c. Estate duty d. All the above?
Question Description
Which of the following duty is levied and collected by the Union government? a. Custom duty b. Excise duty c. Estate duty d. All the above? for Current Affairs 2025 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Which of the following duty is levied and collected by the Union government? a. Custom duty b. Excise duty c. Estate duty d. All the above? covers all topics & solutions for Current Affairs 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following duty is levied and collected by the Union government? a. Custom duty b. Excise duty c. Estate duty d. All the above?.
Which of the following duty is levied and collected by the Union government? a. Custom duty b. Excise duty c. Estate duty d. All the above? for Current Affairs 2025 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Which of the following duty is levied and collected by the Union government? a. Custom duty b. Excise duty c. Estate duty d. All the above? covers all topics & solutions for Current Affairs 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following duty is levied and collected by the Union government? a. Custom duty b. Excise duty c. Estate duty d. All the above?.
Solutions for Which of the following duty is levied and collected by the Union government? a. Custom duty b. Excise duty c. Estate duty d. All the above? in English & in Hindi are available as part of our courses for Current Affairs.
Download more important topics, notes, lectures and mock test series for Current Affairs Exam by signing up for free.
Here you can find the meaning of Which of the following duty is levied and collected by the Union government? a. Custom duty b. Excise duty c. Estate duty d. All the above? defined & explained in the simplest way possible. Besides giving the explanation of
Which of the following duty is levied and collected by the Union government? a. Custom duty b. Excise duty c. Estate duty d. All the above?, a detailed solution for Which of the following duty is levied and collected by the Union government? a. Custom duty b. Excise duty c. Estate duty d. All the above? has been provided alongside types of Which of the following duty is levied and collected by the Union government? a. Custom duty b. Excise duty c. Estate duty d. All the above? theory, EduRev gives you an
ample number of questions to practice Which of the following duty is levied and collected by the Union government? a. Custom duty b. Excise duty c. Estate duty d. All the above? tests, examples and also practice Current Affairs tests.
|
|
Explore Courses for Current Affairs exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup