Economy

2 questions

• 2018 · Question 8 · Taxation

  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 :

  Choose your answer

  (a)1 only(b)2 only(c)Both 1 and 2(d)Neither 1 nor 2

  Show answer

  Source: UPSC, Civil Services (Preliminary), General Studies Paper I (opens in a new tab)

• 2018 · Question 97 · Taxation

  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) ?

  Choose your answer

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

  Source: UPSC, Civil Services (Preliminary), General Studies Paper I (opens in a new tab)