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Which of the following is not an item of India's major export

  • a)
    agriculture and allied products

  • b)
    Oil and Petroleum products

  • c)
    ores and minerals

  • d)
    manufactured goods 

Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Which of the following is not an item of Indias major exporta)agricult...
Not an Item of India's Export

India is one of the largest exporters in the world. The country's export basket includes a wide range of products ranging from agriculture and allied products to manufactured goods. However, paperboard and newspaper are not items of India's export.

Reasons why paperboard and newspaper are not items of India's export

1. Domestic Consumption: India has a large domestic market for paper and paper products. The demand for paperboard and newspaper is high in India, and therefore, most of the production is consumed domestically.

2. Availability of Raw Material: India has a vast forest cover and abundant supply of raw material for paper production. The country is self-sufficient in the production of paper and paper products, and therefore, there is no need to export paper products.

3. Competition: The global market for paper and paper products is highly competitive. India faces tough competition from other countries like China, Indonesia, and Brazil, which are major exporters of paper products.

Items of India's Export:

1. Agriculture and Allied Products: India is a major exporter of agricultural products such as rice, wheat, spices, and tea.

2. Ores and Minerals: India has rich mineral resources and is a significant exporter of iron ore, bauxite, and manganese.

3. Manufactured Goods: India is also a major exporter of manufactured goods such as textiles, chemicals, and engineering products.

Conclusion:

In conclusion, paperboard and newspaper are not items of India's export due to a high demand for domestic consumption, availability of raw material, and tough competition in the global market. India's export basket is diverse and includes a wide range of products from agriculture to manufactured goods.
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Community Answer
Which of the following is not an item of Indias major exporta)agricult...
Oil and petroleum are natural products and are mostly found in Middle East countries. Crude oil is imported from these countries by India and is then refined to obtain petroleum and petroleum products. We are the importers of oil rather than exporters.
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Directions: Based on the case study given below answer the questions that follow.GST : On Nation, One Tax, One MarketThe Goods and Services Tax (GST), the biggest tax reform in the country since independence was rolled out on the mid-night of 30 June/1 July, 2017 during a special midnight session of the Parliament, is the single comprehensive indirect tax, operational from 1 July 2017, on supply of goods and services, right from the manufacturer/services provider to the consumer. It is applicable throughout the country with one rate for one type of goods/service. It has amalgamated a large number of Central and State taxes and cesses. It has replaced large number of taxes on goods and services levied on production/sale of goods or provision of service.As there have been a number of intermediate goods/ services, which were manufactured/provided in the economy, the pre GST tax regime imposed taxes not on the value added at each stage but on the total value of the commodity/service. The total value included taxespaid on intermediate goods/services. This amounted to cascading of tax. Under GST, the tax is discharged at every stage of supply and the credit of tax paid at the previous stage is available for set off at the next stage of supply. In view of our large and fast growing economy, it extends principles of ‘value-added taxation’ to all goods and services and addresses to establish parity in taxation across the country. It has replaced various types of taxes/cesses, levied by Central and State/ UT Governments. Some of the major taxes that were levied by Centre were Central Excise Duty, Service Tax, Central Sales Tax, cesses like KKC and SBC. The major State taxes were VAT/Sales Tax, Entry Tax, Luxury Tax, Octroi, Entertainment Tax, cesses like KKC and SBC.The major State taxes were VAT/Sales Tax, Entry Tax, Luxury Tax, Octroi, Entertainment Tax, cesses like KKC and SBC. Taxes on Advertisements, Taxes on Lottery/ Betting/Gambling, State cesses on goods etc. These have been subsumed in GST.Five petroleum products have been kept out of GST for the time being but with passage of time, they will get subsumed in GST. State Governments will continue to levy VAT on alcoholic liquor for human consumption.Tobacco and tobacco products will attract both GST and Central Excise Duty. Under GST, there are 6 (six) standard rates applied i.e., 0%, 3%, 5%, 12%, 18% and 28% on supply of all goods and/or services across the country.GST has simplified the multiplicity of taxes on goods and services. The laws, procedure and rates of taxes across the country are standardised and thus created a common market in the country. It is aimed at reducing the cost of business operations and cascading effect of various taxes on consumers. It has also reduced the overall cost of production, which will make Indian products/services more competitive in the domestic and international markets. It will also result into higher economic growth as GDP is expected to rise by about 2%. Compliance will also be easier as all tax payment related services like registration, returns, payments are available online through a common portal www.gst.gov.in.It has expanded the tax base, introduced higher transparency in the taxation system, reduced human interface between Taxpayer and Government and is furthering ease of doing business.Q. Which of the following taxes/duties have not been subsumed in the GST initially

Directions: Based on the case study given below answer the questions that follow.GST : On Nation, One Tax, One MarketThe Goods and Services Tax (GST), the biggest tax reform in the country since independence was rolled out on the mid-night of 30 June/1 July, 2017 during a special midnight session of the Parliament, is the single comprehensive indirect tax, operational from 1 July 2017, on supply of goods and services, right from the manufacturer/services provider to the consumer. It is applicable throughout the country with one rate for one type of goods/service. It has amalgamated a large number of Central and State taxes and cesses. It has replaced large number of taxes on goods and services levied on production/sale of goods or provision of service.As there have been a number of intermediate goods/ services, which were manufactured/provided in the economy, the pre GST tax regime imposed taxes not on the value added at each stage but on the total value of the commodity/service. The total value included taxespaid on intermediate goods/services. This amounted to cascading of tax. Under GST, the tax is discharged at every stage of supply and the credit of tax paid at the previous stage is available for set off at the next stage of supply. In view of our large and fast growing economy, it extends principles of ‘value-added taxation’ to all goods and services and addresses to establish parity in taxation across the country. It has replaced various types of taxes/cesses, levied by Central and State/ UT Governments. Some of the major taxes that were levied by Centre were Central Excise Duty, Service Tax, Central Sales Tax, cesses like KKC and SBC. The major State taxes were VAT/Sales Tax, Entry Tax, Luxury Tax, Octroi, Entertainment Tax, cesses like KKC and SBC.The major State taxes were VAT/Sales Tax, Entry Tax, Luxury Tax, Octroi, Entertainment Tax, cesses like KKC and SBC. Taxes on Advertisements, Taxes on Lottery/ Betting/Gambling, State cesses on goods etc. These have been subsumed in GST.Five petroleum products have been kept out of GST for the time being but with passage of time, they will get subsumed in GST. State Governments will continue to levy VAT on alcoholic liquor for human consumption.Tobacco and tobacco products will attract both GST and Central Excise Duty. Under GST, there are 6 (six) standard rates applied i.e., 0%, 3%, 5%, 12%, 18% and 28% on supply of all goods and/or services across the country.GST has simplified the multiplicity of taxes on goods and services. The laws, procedure and rates of taxes across the country are standardised and thus created a common market in the country. It is aimed at reducing the cost of business operations and cascading effect of various taxes on consumers. It has also reduced the overall cost of production, which will make Indian products/services more competitive in the domestic and international markets. It will also result into higher economic growth as GDP is expected to rise by about 2%. Compliance will also be easier as all tax payment related services like registration, returns, payments are available online through a common portal www.gst.gov.in.It has expanded the tax base, introduced higher transparency in the taxation system, reduced human interface between Taxpayer and Government and is furthering ease of doing business.Q. Identify the direct tax among the following

Directions: Based on the case study given below answer the questions that follow.GST : On Nation, One Tax, One MarketThe Goods and Services Tax (GST), the biggest tax reform in the country since independence was rolled out on the mid-night of 30 June/1 July, 2017 during a special midnight session of the Parliament, is the single comprehensive indirect tax, operational from 1 July 2017, on supply of goods and services, right from the manufacturer/services provider to the consumer. It is applicable throughout the country with one rate for one type of goods/service. It has amalgamated a large number of Central and State taxes and cesses. It has replaced large number of taxes on goods and services levied on production/sale of goods or provision of service.As there have been a number of intermediate goods/ services, which were manufactured/provided in the economy, the pre GST tax regime imposed taxes not on the value added at each stage but on the total value of the commodity/service. The total value included taxespaid on intermediate goods/services. This amounted to cascading of tax. Under GST, the tax is discharged at every stage of supply and the credit of tax paid at the previous stage is available for set off at the next stage of supply. In view of our large and fast growing economy, it extends principles of ‘value-added taxation’ to all goods and services and addresses to establish parity in taxation across the country. It has replaced various types of taxes/cesses, levied by Central and State/ UT Governments. Some of the major taxes that were levied by Centre were Central Excise Duty, Service Tax, Central Sales Tax, cesses like KKC and SBC. The major State taxes were VAT/Sales Tax, Entry Tax, Luxury Tax, Octroi, Entertainment Tax, cesses like KKC and SBC.The major State taxes were VAT/Sales Tax, Entry Tax, Luxury Tax, Octroi, Entertainment Tax, cesses like KKC and SBC. Taxes on Advertisements, Taxes on Lottery/ Betting/Gambling, State cesses on goods etc. These have been subsumed in GST.Five petroleum products have been kept out of GST for the time being but with passage of time, they will get subsumed in GST. State Governments will continue to levy VAT on alcoholic liquor for human consumption.Tobacco and tobacco products will attract both GST and Central Excise Duty. Under GST, there are 6 (six) standard rates applied i.e., 0%, 3%, 5%, 12%, 18% and 28% on supply of all goods and/or services across the country.GST has simplified the multiplicity of taxes on goods and services. The laws, procedure and rates of taxes across the country are standardised and thus created a common market in the country. It is aimed at reducing the cost of business operations and cascading effect of various taxes on consumers. It has also reduced the overall cost of production, which will make Indian products/services more competitive in the domestic and international markets. It will also result into higher economic growth as GDP is expected to rise by about 2%. Compliance will also be easier as all tax payment related services like registration, returns, payments are available online through a common portal www.gst.gov.in.It has expanded the tax base, introduced higher transparency in the taxation system, reduced human interface between Taxpayer and Government and is furthering ease of doing business.Q. The six standard rates of tax es applied under GST are

Directions: Based on the case study given below answer the questions that follow.GST : On Nation, One Tax, One MarketThe Goods and Services Tax (GST), the biggest tax reform in the country since independence was rolled out on the mid-night of 30 June/1 July, 2017 during a special midnight session of the Parliament, is the single comprehensive indirect tax, operational from 1 July 2017, on supply of goods and services, right from the manufacturer/services provider to the consumer. It is applicable throughout the country with one rate for one type of goods/service. It has amalgamated a large number of Central and State taxes and cesses. It has replaced large number of taxes on goods and services levied on production/sale of goods or provision of service.As there have been a number of intermediate goods/ services, which were manufactured/provided in the economy, the pre GST tax regime imposed taxes not on the value added at each stage but on the total value of the commodity/service. The total value included taxespaid on intermediate goods/services. This amounted to cascading of tax. Under GST, the tax is discharged at every stage of supply and the credit of tax paid at the previous stage is available for set off at the next stage of supply. In view of our large and fast growing economy, it extends principles of ‘value-added taxation’ to all goods and services and addresses to establish parity in taxation across the country. It has replaced various types of taxes/cesses, levied by Central and State/ UT Governments. Some of the major taxes that were levied by Centre were Central Excise Duty, Service Tax, Central Sales Tax, cesses like KKC and SBC. The major State taxes were VAT/Sales Tax, Entry Tax, Luxury Tax, Octroi, Entertainment Tax, cesses like KKC and SBC.The major State taxes were VAT/Sales Tax, Entry Tax, Luxury Tax, Octroi, Entertainment Tax, cesses like KKC and SBC. Taxes on Advertisements, Taxes on Lottery/ Betting/Gambling, State cesses on goods etc. These have been subsumed in GST.Five petroleum products have been kept out of GST for the time being but with passage of time, they will get subsumed in GST. State Governments will continue to levy VAT on alcoholic liquor for human consumption.Tobacco and tobacco products will attract both GST and Central Excise Duty. Under GST, there are 6 (six) standard rates applied i.e., 0%, 3%, 5%, 12%, 18% and 28% on supply of all goods and/or services across the country.GST has simplified the multiplicity of taxes on goods and services. The laws, procedure and rates of taxes across the country are standardised and thus created a common market in the country. It is aimed at reducing the cost of business operations and cascading effect of various taxes on consumers. It has also reduced the overall cost of production, which will make Indian products/services more competitive in the domestic and international markets. It will also result into higher economic growth as GDP is expected to rise by about 2%. Compliance will also be easier as all tax payment related services like registration, returns, payments are available online through a common portal www.gst.gov.in.It has expanded the tax base, introduced higher transparency in the taxation system, reduced human interface between Taxpayer and Government and is furthering ease of doing business.Q. Cascading effect of tax es results due to

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Which of the following is not an item of Indias major exporta)agriculture and allied productsb)Oil and Petroleum productsc)ores and mineralsd)manufactured goodsCorrect answer is option 'B'. Can you explain this answer?
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