11th Commerce - Book Back Answers - Chapter 33 - English Medium Gudies

 

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Tamil Nadu Board 11th Standard Commerce - Chapter 33: Book Back Answers and Solutions

    This post covers the book back answers and solutions for Chapter 33 – Commerce from the Tamil Nadu State Board 11th Standard Commerce textbook. These detailed answers have been carefully prepared by our expert teachers at KalviTips.com.

    We have explained each answer in a simple, easy-to-understand format, highlighting important points step by step under the relevant subtopics. Students are advised to read and memorize these subtopics thoroughly. Once you understand the main concepts, you’ll be able to connect other related points with real-life examples and confidently present them in your tests and exams.

    By going through this material, you’ll gain a strong understanding of Commerce  Chapter 33 along with the corresponding book back questions and answers (PDF format).

Question Types Covered:

• 1 Mark Questions: Choose the correct answer, Fill in the blanks, Identify the correct statement, Match the following 
• 2 Mark Questions: Answer briefly 
• 3, 4, and 5 Mark Questions: Answer in detail

All answers are presented in a clear and student-friendly manner, focusing on key points to help you score full marks.

All the best, Class 11 students! Prepare well and aim for top scores. Thank you!

Chapter 33: INDIRECT TAXATION

I. Choose the correct answer

1. Who is the chairman of the GST council?
a) RBI Governor
b) Finance Minister
c) Prime Minister
d) President of India
Answer Key:
b) Finance Minister

2. GST Stands for
a) Goods and Supply Tax
b) Government Sales Tax
c) Goods and Services Tax
d) General Sales Tax
Answer Key:
c) Goods and Services Tax

3. What kind of Tax the GST is?
a) Direct Tax
b) Indirect Tax
c) Dependence on the Type of Goods and Services
d) All Business Organisations
Answer Key:
b) Indirect Tax

4. What is IGST?
a) Integrated Goods and Service Tax
b) Indian Goods and Service Tax
c) Initial Goods and Service Tax
d) All the Above
Answer Key:
a) Integrated Goods and Service Tax

5. In India GST became effective from?
a) 1st April, 2017
b) 1st January, 2017
c) 1st July, 2017
d) 1st March, 2017
Answer Key:
c) 1st July, 2017

 

II. Very Short answer questions

1. What do you mean by Indirect Tax.

• Indirect Tax is levied on the goods and services.
• It is collected from the buyers by the sellers and paid by the sellers to the Government.

2. Give any two examples for indirect taxes levied in India.

• GST - Goods and Services Tax         
• Excise duty

3. What do you mean by Goods and Services Taxes?

• Goods and Services Tax (GST) is the tax imposed on the supply  of goods and services.
• It is a destination based consumption tax and collected on those value added items at each stage of the supply chain.

4. What is CGST?

• CGST - Central Goods and Services Tax - imposed and collected by the Central Government on all supply of goods within a state  under CGST Act 2017

III. Short answer questions

1. What are the objectives of GST? (any 3)

• The foremost objective of GST is to create a common market with uniform tax rate in India.
• To increase the tax base by bringing more number of tax payers and increase tax revenue.
• To provide online facilities for payment of taxes and submission of forms.

2. Write any three demerits of GST.

• Several Economists says that GST in India would impact negatively on the real estate market.
• A number of retail products currently have only four percent tax on them.
•  The aviation industry would be affected.

IV. Long answer questions

1. Distinguish between Direct taxes and Indirect taxes. (any 5)

 

Basis	Direct Taxes	Indirect Taxes
Evasion	Tax evasion is possible.	Tax evasion is more difficult
Inflation	Direct tax helps in reducing the inflation.	Indirect tax contributes to inflation.
Shiftability	Cannot be shifted to others	Can be shifted to others
Examples	Income Tax, Wealth Tax	GST, Excise Duty.
Burden	Tax burden is possible	Tax burden is regressive

 

2. Discuss the different kinds of GST.

CGST :

• Central Goods and Services Tax - imposed and collected by the Central Government on all supply of goods within a state under CGST Act 2017.

SGST:

• State Goods and Services Tax - imposed and collected by the State Governments under State GST Act.

UGST:

• Union Territory Goods and Services Tax - imposed and collected by the five Union Territory Administrations in India under UGST Act 2017.

IGST:

• Inter-State Goods and Services Tax - imposed and collected by the Central Government and the revenue shared with States under IGST Act 2017.

IGST:

• on exports - All exports are treated as Inter-State supply under GST