Assertion (A): Indirect Taxes are regressive in their impact. Reason (R): They are levied at a uniform rate irrespective of the income level of the consumer. MCQ with Answer and Explanation
Assertion (A): Indirect Taxes are regressive in their impact. Reason (R): They are levied at a uniform rate irrespective of the income level of the consumer.
A. Both A and R are true but R is not the correct explanation of A
B. A is false but R is true
C. A is true but R is false
D. Both A and R are true and R is the correct explanation of A
Answer: Option D
Solution (By JKSSB Mock Tests)
Because indirect taxes (like GST) are charged flatly on goods, lower-income people pay a higher proportion of their income, causing a regressive effect.
Explanation:
Section 135 mandates a CSR Committee for companies that meet specific thresholds of net worth (₹500 Cr+), turnover (₹1000 Cr+), or net profit (₹5 Cr+) in the preceding financial year.
Explanation:
Bank charges have been debited by bank in passbook, reducing the balance, but not recorded in cash book. To reconcile from cash book to passbook, we deduct the charges.
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