Chapter: 11th Commerce : Chapter 33 : 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.
Study Material, Lecturing Notes, Assignment, Reference, Wiki description explanation, brief detail
11th Commerce : Chapter 33 : Indirect Taxation : Meaning of Indirect Tax |
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11th Commerce : Chapter 33 : Indirect Taxation