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Question
Read the following statements carefully and choose the correct alternative:
Assertion (A): Income tax is a direct tax.
Reason (R): GST is an indirect tax.
Options
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
Assertion (A) is true but Reason (R) is false.
Assertion (A) is false but Reason (R) is true.
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Solution
Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
RELATED QUESTIONS
Monetary policy means regulation of money supply by the monetary authority.
Define fiscal policy.
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Define Indirect tax
Give an example of Indirect tax.
Give two reasons why the government imposes tax?
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Reducing income inequality.
Discuss four fiscal policy objectives with reference to India.
Explain the following with examples:
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Explain the significance of taxes.
