Write a note on the types of tariffs.
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There are several types of tariffs and barriers that a government can employ:
Specific tariffs.
Ad valorem tariffs.
Licenses.
Import quotas.
Voluntary export restraints.
Local content requirements.
There are two basic types of tariffs imposed by governments on imported goods. First is the ad valorem tax which is a percentage of the value of the item. The second is a specific tariff which is a tax levied based on a set fee per number of items or by weight.
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Answer:
There are several types of tariffs and barriers that a government can employ:
Specific tariffs.
Ad valorem tariffs.
Licenses.
Import quotas.
Voluntary export restraints.
Local content requirements.
d) Fine and Penalties
These are general sources of administrative non tax revenues
These may be applied on public for non compliance with certain rules and regulations.
These are not considered as the major source of revenue for the government
These are general sources of administrative non tax revenues
These may be applied on public for non compliance with certain rules and regulations.
These are not considered as the major source of revenue for the government
e) Grants and Gifts
Grants are financial support
These are provided to public authority to perform certain social activities
These are generated by higher public authority to lower ones
e.g. World bank gives grants to State bank
There is no repayment compulsion
Gifts and donations are voluntarily made by individuals, organizations or foreign governments to the Central Government.
Grants are financial support
These are provided to public authority to perform certain social activities
These are generated by higher public authority to lower ones
e.g. World bank gives grants to State bank
There is no repayment compulsion
Gifts and donations are voluntarily made by individuals, organizations or foreign governments to the Central Government.
a.) Tax revenue
Tax structure is developed and divided as follows:
Central Government: It levy taxes on income excluding agricultural income customs duty, central excise duty and service tax.
STATE GOVERNMENT: It levies taxes on state excise duty, agricultural income, Stamp Duty, Value Added Tax (VAT), land revenue tax and professional tax.
Tax structure is developed and divided as follows:
Central Government: It levy taxes on income excluding agricultural income customs duty, central excise duty and service tax.
STATE GOVERNMENT: It levies taxes on state excise duty, agricultural income, Stamp Duty, Value Added Tax (VAT), land revenue tax and professional tax.
LOCAL GOVERNMENT BODIES: They levy Octroi, property tax, and tax for utilities like water supply, Sanitation etc.
Since Indian tax structure and system have faced certain reforms. These reforms include decrease in rate of all major tax that simplifies laws and rules & procedure, modernization of administration and enforcement machineries.
Since Indian tax structure and system have faced certain reforms. These reforms include decrease in rate of all major tax that simplifies laws and rules & procedure, modernization of administration and enforcement machineries.
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Examine the arguments for and against the policy of protection.
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Similar questions
A fee is a significant source of managerial non-tax revenue charged by Government authorities for depiction services to the members of the public.
There is no compulsion to pay fees. All those utilize services may pay fees.
Fees may be charged for getting licenses, passports or registrations, filing of court cases, etc.