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Chapter: 11th Commerce : Indirect Taxation

Meaning of Indirect Tax

Indirect Tax is levied on the goods and services.

INDIRECT TAXATION

Meaning of Indirect Tax

Indirect Tax is levied on the goods and services. It is collected from the buyers by the sellers and paid by the sellers to the Government. Since it is indirectly imposed on the buyers it iscalled indirect tax. e.g. GST - Goods and Services Tax, Excise duty. The following picture clearly explains the direct tax and indirect tax concepts.


 

Differences between Direct Taxes and Indirect Taxes

The main differences between direct taxes and indirect taxes are given in table.



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11th Commerce : Indirect Taxation : Meaning of Indirect Tax |


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