Chartered Accountant Articleship Trainee Interview Questions and Answers

India has a complex taxation system with multiple taxes levied by both central and state governments.

• The central government levies taxes such as income tax, customs duty, and service tax.

• State governments levy taxes such as value-added tax (VAT), entry tax, and entertainment tax.

• Goods and Services Tax (GST) was introduced in 2017 to replace multiple indirect taxes.

• Taxation laws are governed by the Income Tax Act, 1961 and the Goods and Services Tax Act, 2017.

• Tax evasion is a ...read more