Canons of Taxation: convenience, productivity, elasticity

Q. Which of the following are the canons of taxation issued by Adam Smith?

1. Canon of productivity
2. Canon of revenue
3. Canon of income
4. Canon of elasticity

Q. Identify the canons of taxation.

1. Equity
2. Certainty
3. Equality
4. Economy
5. Monotony
6. Convenience
7. Productivity
8. Elasticity

Q. Case 1: In India, the government reduced the Goods and Services Tax from 12% to 5% on medicines and testing kits during the pandemic of COVID-19 in 2021.

Case 2: In India, a part of the tax from salaried people is collected at the time they receive salary.

Identify the canons of taxation in the above two cases.

1. Case 1: Canon of productivity
   Case 2: Canon of convenience
2. Case 1: Canon of elasticity
   Case 2: Canon of productivity
3. Case 1: Canon of elasticity
   Case 2: Canon of convenience
4. Case 1: Canon of convenience
   Case 2: Canon of elasticity

Q. Which canon states that the government should impose the taxes from which it can get enough tax revenue and should choose a few taxes that can fetch more tax revenue?

1. Canon of elasticity
2. Canon of economy
3. Canon of revenue
4. Canon of productivity

Q. During the COVID-19 pandemic, the government reduced the Goods and Services Tax from 12% to 5% on medicines and testing kits. Identify the principle of taxation that is evident in this situation.

1. Canon of convenience
2. Canon of productivity
3. Canon of economy
4. Canon of elasticity