Tax Questions with solutions MCQs

1. Which of the following taxes are abolished by the Goods and Services Tax?

A

Property Tax

B

Corporation Tax

C

VAT

D

All of the above

Tax Stock Assistant 2024
Correct Answer : C
Explanation :

The Goods and Services Tax (GST) has replaced several indirect taxes in India. Among the options listed, <strong>VAT (Value Added Tax)</strong> is one of the taxes that has been abolished by GST. Therefore, the correct answer is VAT.<span><br></span>

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Wrong Answered :

2. Which of the following is a form of indirect tax?

A

Income Tax

B

Wealth Tax

C

Corporation Tax

D

Sales Tax

Tax Stock Assistant 2024
Correct Answer : D
Explanation :

<div class="flex flex-grow flex-col max-w-full"><div data-message-author-role="assistant" data-message-id="da930e7f-6bd6-4d5e-908d-e0f06b0988f5" dir="auto" class="min-h-[20px] text-message flex flex-col items-start whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 juice:w-full juice:items-end overflow-x-auto gap-2"><div class="flex w-full flex-col gap-1 juice:empty:hidden juice:first:pt-[3px]"><div class="markdown prose w-full break-words dark:prose-invert light"><p>Among the options given, <strong>Sales Tax</strong> is a form of indirect tax.</p></div></div></div></div>

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