Why is service tax an indirect tax?

Why are subsidies treated as revenue expenditure?

Why is tax not a capital receipt?

Categorize the following items into Revenue and Capital Receipts.
Statement-Recovery of loans.

Define surplus budget.

Categorize the following items into Direct and Indirect Taxes.
Statement Corporate tax.

Give two adverse effects of deficit of budget.

Define the term ‘tax’.

Categorize the following items into Revenue and Capital Expenditure.
Statement-Expenditure incurred on administrative and defence services.

Categorize the following items into Revenue and Capital Expenditure.
Statement-Interest paid on National Debt.