UPSC 2018 › Indian Economy › Taxation

2 questions · 2018 · answers as per the UPSC key

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UPSC 2018 · Q8 · Indian Economy › Taxation · Save

With reference to India's decision to levy an equalization tax of 6% on online advertisement services offered by non-resident entities, which of the following statements is/are correct ?

  1. It is introduced as a part of the Income Tax Act.
  2. Non-resident entities that offer advertisement services in India can claim a tax credit in their home country under the "Double Taxation Avoidance Agreements".

Select the correct answer using the code given below :

(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
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Answer: (d) Neither 1 nor 2
UPSC 2018 · Q97 · Indian Economy › Taxation · Save

Consider the following items :

  1. Cereal grains hulled
  2. Chicken eggs cooked
  3. Fish processed and canned
  4. Newspapers containing advertising material

Which of the above items is/are exempted under GST (Goods and Services Tax) ?

(a) 1 only
(b) 2 and 3 only
(c) 1, 2 and 4 only
(d) 1, 2, 3 and 4
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Answer: (c) 1, 2 and 4 only