InvestorQ : indirect tax is the important or not??
Nayana made post

indirect tax is the important or not??

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Suhani Mirza answered.
1 year ago

Yes, Indirect tax is as important as Direct tax. You may feel pinch to pay extra money above the actual purchase price for common goods or services. Many of taxer payers believe its an additional cost to bear. However, Indirect taxes are imposed for significant reasons. Over less than 40% of the total tax revenue is covered by indirect tax.

Indirect Tax is also considered as important because;
The fund is used in municipal of the area
It is used in the country's and state development
it broadens the tax slab
it minimizes the total consumption standard
It diversifies the resource.

Some important Indirect tax are-
Customs Duty:
Central Excise Duty:
Service Tax:
Sales Tax:
Value Added Tax (VAT):
Securities Transaction Tax (STT)