PPT : Basic Understanding of Tax System in India CA Foundation Notes | EduRev

Economics for CA CPT

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CA Foundation : PPT : Basic Understanding of Tax System in India CA Foundation Notes | EduRev

 Page 1


CPT Section C General Economics Chapter 5 Unit 4 
CA Shweta Poojari 
Page 2


CPT Section C General Economics Chapter 5 Unit 4 
CA Shweta Poojari 
Meaning of Direct And Indirect Taxes. 
Merits and Demerits. 
Types of Taxes Levied In India. 
Evaluation of Indian Tax System. 
Comparison of tax revenue with GDP. 
Conclusion. 
Multiple choice question with solution and explanation. 
Page 3


CPT Section C General Economics Chapter 5 Unit 4 
CA Shweta Poojari 
Meaning of Direct And Indirect Taxes. 
Merits and Demerits. 
Types of Taxes Levied In India. 
Evaluation of Indian Tax System. 
Comparison of tax revenue with GDP. 
Conclusion. 
Multiple choice question with solution and explanation. 
Tax:- A tax is a compulsory contribution 
imposed by the state without reference to 
some particular benefit to the tax payer in 
exchage for tax. Taxes are generally 
classified into foll categories: 
• Direct Taxes  
• Indirect Taxes 
Page 4


CPT Section C General Economics Chapter 5 Unit 4 
CA Shweta Poojari 
Meaning of Direct And Indirect Taxes. 
Merits and Demerits. 
Types of Taxes Levied In India. 
Evaluation of Indian Tax System. 
Comparison of tax revenue with GDP. 
Conclusion. 
Multiple choice question with solution and explanation. 
Tax:- A tax is a compulsory contribution 
imposed by the state without reference to 
some particular benefit to the tax payer in 
exchage for tax. Taxes are generally 
classified into foll categories: 
• Direct Taxes  
• Indirect Taxes 
• When tax is imposed on a commodity according to its 
weight, size or measurement, it is called Specific tax. 
• E.g. Rs.2 per kilogram of sugar or Rs.5 per meter of 
cloth. 
Specific 
rate 
• When tax is levied on a commodity on the basis of its 
value i.e. as % of its value, it is called the Ad-valorem 
rate. E.g. 10% or 15% of value. 
Ad 
Valorem 
Page 5


CPT Section C General Economics Chapter 5 Unit 4 
CA Shweta Poojari 
Meaning of Direct And Indirect Taxes. 
Merits and Demerits. 
Types of Taxes Levied In India. 
Evaluation of Indian Tax System. 
Comparison of tax revenue with GDP. 
Conclusion. 
Multiple choice question with solution and explanation. 
Tax:- A tax is a compulsory contribution 
imposed by the state without reference to 
some particular benefit to the tax payer in 
exchage for tax. Taxes are generally 
classified into foll categories: 
• Direct Taxes  
• Indirect Taxes 
• When tax is imposed on a commodity according to its 
weight, size or measurement, it is called Specific tax. 
• E.g. Rs.2 per kilogram of sugar or Rs.5 per meter of 
cloth. 
Specific 
rate 
• When tax is levied on a commodity on the basis of its 
value i.e. as % of its value, it is called the Ad-valorem 
rate. E.g. 10% or 15% of value. 
Ad 
Valorem 
• Taxes which are not shifted i.e., the incidence 
of which falls on the person who pays them to 
the government are direct taxes. 
Direct 
Taxes: 
• Where the burden is shifted through a 
change in price, the taxes are indirect. 
Indirect 
Taxes: 
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