Economy UPPSC 1995 GS-I
Question

Which of the following taxes does not directly increase the price of a commodity to buyers:

Answer & Solution

Answer: (Detailed Solution Below)

Option A: Income Tax

Detailed Solution:

The correct answer is “Income Tax”.

Income Tax is a direct tax levied on an individual or corporation's income. It does not directly impact the price of a commodity.  

Trade Tax, Import Duty, and Excise Duty are indirect taxes, which are added to the cost of a product, ultimately increasing its price for the consumer.

Similar Questions:

Trade related intellectual property rights over the following:

1. trademarks
2. industrial designs
3. geographical indications
4. Labour standards

Choose the correct answer with the aid of the code given below:
Code:
  1. 1 only
  2. 1 and 2
  3. 1, 2 and 3
  4. all of the above
Who amongst the following benefits most from inflation?
  1. Creditors
  2. Debtors
  3. Saving Bank Account Holders
  4. Government Pensioners
Who of the following was not a moderate?
  1. Gopal Krishna Gokhale
  2. Bal Gangadhar Tilak
  3. A.O. Hume
  4. Madan Mohan Malviya
LB.S. is one of the economic measures taken by the Government of India for financial inclusion. What is L.B.S. in this context ?
  1. Lead Breaking System
  2. Lead Banking Scheme
  3. Loan Banking System
  4. Loan Banking Scheme
Credit Deposit Ratio of Commercial Banks in UP has since 1971:
  1. continuously declined
  2. continuously increased
  3. remained constant
  4. first increased till 1990 and then declined
The Bank rate is the rate at which:
  1. a bank lends to the public
  2. the RBI lends to the public
  3. the RBI gives credit to the commercial banks
  4. the Government of India lends to other countries.
Intake of less than under-noted average daily calories per person has been defined as the "Poverty line" in urban areas by the Planning Commission of India:
  1. 2100
  2. 2400
  3. 2700
  4. 3000
Among the following sectors, which contributes most to the savings, in India:
  1. Banking and financial sector
  2. Export sector
  3. Household sector
  4. Private corporate sector
Assertion (A): Many industries in India have obtained ISO 9001 and ISO 9002 certification in the recent past.
Reason (R): There has been considerable liberalisation in the licensing policy of the Government of India.


Code:
  1. Both A and R are true and R is the correct explanation of A
  2. Both A and R or true but R is not the correct explanation of A
  3. A is true but R is false
  4. A is false but R is true
If interest payment is added to primary deficit, it is equivalent to:
  1. Budget deficit
  2. Fiscal deficit
  3. Deficit financing
  4. Revenue deficit
National income of India is estimated by:
  1. Planning Commission
  2. Ministry of Finance
  3. Central Statistical Organisation
  4. Reserve Bank of India
Which of the following committee had examined the issue of full convertibility of Indian rupees?
  1. Baghul committee
  2. Rangarajan committee
  3. Tarapore committee II
  4. Hashim committee