Taxes in List – I of the Union Government as per the Constitution of India include : I. Taxes on…
Pre-GST Union List covered newspaper sale/advertising taxes, nonagricultural capital-value taxes and nonagricultural succession duties; electricity consumption/sale taxes…
Choose your answer
Taxes in List – I of the Union Government as per the Constitution of India include :
I. Taxes on consumption and sale of electricity
II. Taxes on sale or purchase of newspapers and on advertisements published there in
III. Taxes on capital value of assets
IV. Duties in respect of succession to property
Answer and explanation
Correct answer C
Pre-GST Union List covered newspaper sale/advertising taxes, nonagricultural capital-value taxes and nonagricultural succession duties; electricity consumption/sale taxes belonged to states. Agricultural exceptions are omitted in wording.
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UGC NET Economics