Question

explain in brief the taxes of Central government for 15 mark​

Answer 1

Answer:

The Central Government of India levies taxes such as customs duty,income tax, service tax, and central excise duty. The taxation system in India empowers the state governments to levy income tax on agricultural income, professional tax, value added tax (VAT), state excise duty, land revenue and stamp duty...

Answer 2

Explanation:

The Central Government of India levies taxes such as customs duty,income tax, service tax, and central excise duty. The taxation system in India empowers the state governments to levy income tax on agricultural income, professional tax, value added tax (VAT), state excise duty, land revenue and stamp duty.Tax is one of the most common financial terms. Taxes are one of the primary sources of income for the government through which it fulfils various projects and initiatives. They are levied by the central and state governments.The three types of taxes are the proportional tax, the progressive tax, and the regressive tax. A proportional tax imposes the same percentage of taxation on everyone, regardless of income.