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Which of the following sets belongs to Central tax?
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- Excise duty, Sales tax and Customs duty
- Excise duty, Customs duty and Income tax
- Income tax, Customs duty and House tax
- Customs duty, Entertainment tax and Income tax
- Excise duty, Sales tax and Customs duty
Correct Option: B
The Central Indian Government that is officially named as the “Union Government” is responsible for the imposition of both direct taxes as well indirect taxes. Listed below are some of the taxes that are levied by the India Government: Banking Cash Transaction Tax; Capital Gains Tax; Corporate Income Tax; Fringe Benefit Tax; Personal Income Tax; and Securities Transaction Tax. The indirect taxes are: Customs Duty; Excise Duty and Service Tax.
