Define an indirect tax with the help of one example. - Vidyadip

Question

Define an indirect tax with the help of one example.

✓

Answer

Indirect tax refers to that tax which is imposed on one person but paid party or wholly by another.
Examples : Excise Duty, GST

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "[2 Mark Question Answer]" from Public Revenue→Public Revenue — all question types→Economics STD 10 question papers→ICSE Board STD 10 question papers→ICSE Board question paper generator→

Similar questions

Mention the degree of price elasticity of demand for the following goods:
(i) Cosmetics
(ii) Medicine
(iii) School uniform
(iv) Air conditioners

Mention two reasons for setting up the central bank (or the Reserve Bank of India).

Draw a well labelled diagram showing the price elasticity of supply of a commodity starting from the origin.

What is meant by the income effect of a fall in the prices of a commodity?

What do you understand by the term near money?

What is meant by open market operations? How does it influence money supply?

How does the central bank act as a fiscal agent to the government?

What is the difference between an entrepreneur and an organizer?

Land is one of the most important factors of production. In this context, mention two ways in which the efficiency of land can be enhanced?

Explain the medium of exchange function of money.###How does money solve the problem of double coincidence of wants?