Consider the following statements.

1) India’s tax revenue as a percentage of GDP has been steadily increasing in the past decade.

2) General Government Debt as a percentage of GDP has steadily reduced in the past decade.

Which of the above is/are correct?

Which of the following statements is correct about applicability of income tax provision to sale of farm produce by farmers to traders?

1) All cash sales of agricultural produce by a cultivator to a trader is taxable.

2) The cultivator and the trader must provide their Permanent Account Number (PAN) in all such transactions.

Which of the above is/are correct?

Which of the following countries have a system of “Inheritance tax”?

1) USA

2) UK

3) Spain

4) India

Select the correct answer using the codes below.

A Carbon tax imposed by the government necessarily leads to

1) Net revenue loss for the economy

2) Cumulative GDP loss with successive financial years

Which of the above is/are correct?

Recently, in a bid to curb health hazards originating from bursting of firecrackers, the Pune Bench of the National Green Tribunal has directed civic bodies to levy ‘green tax’ on sellers. Ecotaxes are examples of ‘Pigouvian taxes’, which are taxes that

1) Attempt to make the private parties involved feel the social burden of their actions

2) Shift the incidence of a direct tax in the form of an indirect tax

3) Applied only on business firms or commercial entities

Select the correct answer using the codes below.