ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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wealth tax and the gift tax again the base is quite different; for the former it is the net wealth of an assessee whereas for the latter it is the transfer by gift that constitutes the base of taxation. And when one comes to commodity taxes, principally excise and customs duties, the base is different from commodity to commodity, given the vast range of rates which prevail.

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