Question:
The tax which is not shared between the Centre and the States is
The tax which is not shared between the Centre and the States is
Updated On: Oct 7, 2024
- Corporation Tax
- Sales Tax
- Income Tax
- Central Excise Duty
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The Correct Option is B
Solution and Explanation
Sales tax is an indirect tax, meaning it is collected by the seller from the consumer at the time of purchase and then remitted to the government.
The formula for calculating sales tax is:
\(\text{Total Sales Tax=Cost of Item×Sales Tax }\)
The correct option is (B): Sales Tax
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