Question

Question No. 32
Tax on commodities and services
are included in​

Answer 1

Answer:

Tax on commodities

There are favorable federal tax rates for commodities as they are taxed at 60% long-term capital gains and 40% short-term capital gains. Long-term gains are capped at 15%, and short-term gains are taxed at your ordinary tax rate, which depends on your adjusted income.

Service tax

Service tax was a tax levied by the Central Government of India on services provided or agreed to be provided excluding services covered under negative list and considering the Place of Provision of Services Rules, 2012 and collected as per Point of Taxation Rules, 2011 from the person liable to pay service tax.

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Answer 2

Answer:

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Explanation:

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