Why are taxes levied in india?

Raphaelle Halvorson asked a question: Why are taxes levied in india?
Asked By: Raphaelle Halvorson
Date created: Fri, Jul 2, 2021 11:06 PM

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Top best answers to the question «Why are taxes levied in india»

  • Tax effect on oil prices India meets its domestic oil demand mainly through imports. While international crude prices have risen sharply in the last six months, a major reason for the high selling price of petrol is the high levy of local taxes. The Union government levies excise duty and cess on fuel, and states levy a value added tax (VAT).

FAQ

Those who are looking for an answer to the question «Why are taxes levied in india?» often ask the following questions:

⭐️ Who collects taxes in india?

Income tax is collected by Income tax department, customs and excise collects the rest of the taxes. these entities fall under the purview of Indian Revenue Department

⭐️ What are the taxes in india?

When it comes to taxes, there are two types of taxes in India - Direct and Indirect tax. ... All About Tax Structure In India.

Income Tax slabTax applicable
Up to Rs. 2,50,000Nil
From Rs. 2,50,001 to Rs. 5,00,0005%
From Rs. 5,00,001 to Rs. 10,00,00020%
Above Rs. 10,00,00030%

Question from categories: types of taxes in india types of taxes in india 2020 gst tax structure in india

⭐️ What is the duty levied while transporting goods from state to state in india?

octroi duty

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