What Is Difference Between Direct Tax And Indirect Tax Pdf

what is difference between direct tax and indirect tax pdf

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The citizens of India cannot shy away from paying taxes. The Government of India imposes two types of taxes on its citizens — direct and indirect taxes.

A direct tax is one that the taxpayer pays directly to the government.

Indirect tax

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Difference Between Direct and Indirect Tax

Updated on Jan 05, - PM. Tax is a mandatory fee imposed upon individuals or corporations by the Central and the State Government to help build the economy of a country by meeting various public expenses. Taxes are broadly divided into two categories- Direct and Indirect taxes. It is a tax levied directly on a taxpayer who pays it to the Government and cannot pass it on to someone else. Some of the important direct taxes imposed in India are mentioned below:. However, both Estate and Wealth taxes are now abolished.

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An indirect tax such as sales tax , per unit tax , value added tax VAT , or goods and services tax GST , excise , consumption tax , tariff is a tax collected by an intermediary such as a retail store from the person who bears the ultimate economic burden of the tax such as the consumer. The intermediary later files a tax return and forwards the tax proceeds to government with the return. In this sense, the term indirect tax is contrasted with a direct tax , which is collected directly by government from the persons legal or natural on whom it is imposed. Some commentators have argued that "a direct tax is one that cannot be charged by the taxpayer to someone else, whereas an indirect tax can be. An indirect tax may be used to raise the price of products for consumers. An excise duty on motor cars is paid in the first instance by the manufacturer of the cars; ultimately, the manufacturer transfers the burden of this duty to the buyer of the car in the form of a higher price. Thus, an indirect tax is one that can be shifted or passed on.

Direct vs Indirect Taxes

The government levies taxes on various items ranging from consumer goods and electronics to fuel and liquor. Every individual earning above a certain limit has to pay income tax. But what is income tax?

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Difference Between Direct and Indirect Tax

5 COMMENTS

AritГіfanes R.

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In short, the government needs resources for the nation's development.

Listenespho1957

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In the literature of public finance , taxes have been classified in various ways according to who pays for them, who bears the ultimate burden of them, the extent to which the burden can be shifted, and various other criteria.

Rule D.

REPLY

are non-transferable.

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