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Increase in tax rate leads to increase in the price of commodities. Which of the following will you recommend for tax imposition ? Why ?Gold jeweler, Diamond jeweler, Life saving medicines, Petroleum products, Salt, Luxury cars. |
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Answer» I will recommend to impose tax on gold jeweler, Diamond jeweler and luxury cars. I will not recommend to impose tax on petroleum product, salt, life saving medicines etc because they are essential commodities. The price of there will increase as a result of tax imposition and it will affect the standard of living of the common people. |
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