Identify the correct option. Full form of 'ITC' in Indian Tax Context. Option 1: Income Tax Control Option 2: Input Tax Credit Option 3: Indian Tea Company Option 4: Indirect Tax Control

The answer is 'Input Tax Credit'. View full solution:

CUET Economics - Identify the correct option. Full form of 'ITC' in Indian Tax Context. | PYQs + Solutions

CUET Economics 2023 11 June Shift 3

Macro

Easy

Income Tax Control

Input Tax Credit

Indian Tea Company

Indirect Tax Control

✅ Correct Option: 2

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28 May Shift 2

Receipts of the Government that are non-redeemable and cannot be reclaimed from the Government, are under which type of revenues of Government ?

29 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Primary deficit	(I) Net borrowing at home + Borrowing from RBI + Borrowing from abroad
(B) Fiscal deficit	(II) Fiscal deficit – Net interest liabilities
(C) Revenue deficit	(III) Revenue expenditure – Revenue receipts
(D) Revenue Expenditure	(IV) Plan and non-plan expenditure

Choose the correct answer from the options given below:

29 May Shift 1

Which of the following are features of fiscal policy?

(A) Taxes and government spending are tools of fiscal policy.

(B) It is implemented by the central bank.

(D) It involves adjustments in public debt.

Choose the correct answer from the options given below: