It is a direct tax. It is an indirect tax. It was introduced during 1994-95. Of the above statements, choose the correct answer from the code given below: Code : Direct taxes are levied directly on the income or wealth of individuals/entities (e.g., income tax, corporate tax). Indirect taxes are levied on consumption or expenditure, and the burden is typically shifted to the consumer (e.g., sales tax, excise duty, service tax, GST).
Consider the following statements regarding service tax.
Asked in UPPSC Upper Mains 2013 · Topic: Fiscal Policy & Revenue (Taxation System in India: Direct, Indirect taxes, and Tax Reforms (including GST))
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