while presenting the budget finance minister proposed to raise the excise duty on pan masala and value added tax on food in the restaurant.he also proposed to raise income tax and wealth tax on the individual and tomost bracket.identify and proposed the taxes by the fiance minister.also identify the value?
Excise tax & Value added tax- Indirect tax
Income tax & wealth tax- Direct tax
In the given situation, besides revenue, the following can be some of the objectives.
1. Discouraging the use of harmful products as pan masla
2. Greater equality in the distribution of income and wealth.
3. Social welfare
Income tax & wealth tax- Direct tax
In the given situation, besides revenue, the following can be some of the objectives.
1. Discouraging the use of harmful products as pan masla
2. Greater equality in the distribution of income and wealth.
3. Social welfare