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प्रश्न
What do you understand by G.S.T?
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उत्तर
"Goods and services tax" refers to any tax on the supply of goods, services, or both, excluding taxes on the supply of alcoholic beverages for human consumption. It is an indirect tax that combines various taxes, such as sales tax, excise tax, VAT, and so on, into a single tax for the entire country. GST is levied at every stage of the supply chain of goods or services, from production to the final retail level, replacing the various archaic tax structures.
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संबंधित प्रश्न
Distinguish between revenue deficit and fiscal deficit.
Give the relationship between the revenue deficit and the fiscal deficit.
Consider an economy described by the following functions:- C = 20 + 0.80Y, I = 30, G = 50, TR = 100, calculate the effect on output of a 10 per cent increase in transfers, and a 10 per cent increase in lump-sum taxes. Compare the effects of the two.
We suppose that C = 70 + 0.70Y D, I = 90, G = 100, T = 0.10Y (a) Find the equilibrium income. (b) What are tax revenues at equilibrium Income? Does the government have a balanced budget?
Suppose marginal propensity to consume is 0.75 and there is a 20 per cent proportional income tax. Find the change in equilibrium income for the following (a) Government purchases increase by 20 (b) Transfers decrease by 20.
Explain the relation between government deficit and government debt.
Which of the following statement is true?
| S. No. | Content | Rs (in crores) |
| 1. | Revenue Expenditure | 100 |
| 2. | Capital Receipts | 40 |
| 3. | Net Borrowings | 38 |
| 4. | Net Interest Payments | 27 |
| 5. | Tax Revenue | 50 |
| 6. | Non-tax Revenue | 15 |
Which of the following is the formula for revenue deficit?
Assertion (A): Fiscal deficit is measured in terms of borrowings.
Reason (R): External borrowings increases the Fiscal deficit.
Read the following statements carefully and choose the correct alternatives given below:
Statement 1: Fiscal Deficit = Total Budget Expenditure - Total Budget Receipts (Net of borrowing)
Statement 2: Primary Deficit = Fiscal Deficit + Interest Payments.
______ in the budget is an important measure of deficit.
What is relation between government deficit and government debt?
______ are the transactions between the residents of two countries that take place due to consideration of profit.
______ are those transactions that are undertaken to cover deficit or surplus in autonomous transactions.
Which of the following transactions are correct about ORT?
Identify the correctly matched pair of the items in Column A to those in Column B:
| Column A | Column B | ||
| 1 | Fiscal Deficit | (a) | Other than interest payments |
| 2 | Primary Deficit | (b) | Borrowings less interest payments |
| 3 | Revenue Deficit | (c) | Borrowings |
| 4 | Tax Deficit | (d) | Borrowings in government budget |
Which of the following statements is true?
Fiscal deficit equals:
Identify which of the following statements is true.
