Select personalised ads. Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. An indirect tax is collected by one entity in the supply chain usually a producer or retailer and paid to the government, but it is passed on to the consumer as part of the purchase price of a good or service.
The consumer is ultimately paying the tax by paying more for the product. Indirect taxes are defined by contrasting them with direct taxes. Indirect taxes can be defined as taxation on an individual or entity, which is ultimately paid for by another person.
The body that collects the tax will then remit it to the government. But in the case of direct taxes, the person immediately paying the tax is the person that the government is seeking to tax. Excise duties on fuel, liquor, and cigarettes are all considered examples of indirect taxes.
Admission fees to a national park are another clear example of direct taxation. Some indirect taxes are also referred to as consumption taxes, such as a value-added tax VAT. Indirect taxes are commonly used and imposed by the government in order to generate revenue. They are essentially fees that are levied equally upon taxpayers , no matter their income, so rich or poor, everyone has to pay them. But many consider them to be regressive taxes as they can bear a heavy burden on people with lower incomes who end up paying the same amount of tax as those who make a higher income.
For example, the import duty on a television from Japan will be the same amount, no matter the income of the consumer purchasing the television. Learn more Sign Up. The payments transformation allows for instant transactions.
Contact sales. Skip to content Open site navigation sidebar. Why GoCardless? For use case Subscription payments Recurring payments built for subscriptions Invoice payments Collect and reconcile invoice payments automatically. Our customers Customer stories Hear from our customers Customer success Our customer first approach Customer Hub Training resources, documentation, and more.
For small business Overview Improve your cashflow Keep track of payments Reduce costs Reduce failed payments Increase conversions.
For enterprise Overview Reduce churn Reduce international barriers Reduce operational costs Reduce time to get paid Reduce conversion risk. Breadcrumb Resources Accountants. Table of contents. Imposed on income or profits. Imposed on goods and services. Individuals, HUFs, firms and companies. End-consumer of the goods and services.
Applicable to the taxpayer alone. Applicable to every stage of the production-distribution chain. Tax burden. The burden falls directly on the individual. The burden is shifted to the consumer by the manufacturer or service provider.
Cannot be transferred to anyone else. Can be transferred from one taxpayer to the other. Confined to an entity or individual taxpayer. From your salary, meals at a restaurant, watching a movie at the multiplex, driving your car on roads, to simply purchasing a packet of biscuit from a general store, you pay many different types of taxes in many different ways. As a responsible citizen of the country, it is your duty to pay the taxes. But it is also equally important to know the different types of taxes implemented in the country.
All the various taxations in India can be broadly classified into two categories- direct and indirect tax. Let us have a detailed look at the meaning of these two types of taxes. Calculate Now. Key Takeaways Every responsible citizen is required to pay taxes as it is collected for the country's overall development and betterment. Direct taxes can be in the form of income tax, capital gains tax or securities transaction tax, while indirect taxes such as GST, Customs Duty or VAT are levied on all end-consumers to buy any goods services.
Taxes indeed reduce your monetary gains. Can you save more Tax? Plan here. Which of these Financial Solutions would you like advice on? Life Insurance. Health Insurance. Business Loan. Mutual Fund. Home Loan. All of the Above. Send OTP. Enter OTP. Contact Me. Terms and Conditions. Terms and Conditions for use of www. Not an Investment Advisor, Planner, Broker or Tax Advisor The facilities on the Website are not intended to provide any legal, tax or financial or securities related advice.
Financial Solutions We may provide you with various money solutions and options which are generally available basis your investment profile or those which are generally held by persons of similar investment profile. Password Protection You shall not be entitled to avail the facilities without the use of a user name and password.
No Warranty Although all efforts are made to ensure that information and content provided as part of this Website is correct at the time of inclusion on the Website, however there is no guarantee to the accuracy of the Information. No Liability This Website is provided to you on an "as is" and "where-is" basis, without any warranty. Postings and monitoring The Facilities Provider or ABCL or ABC Companies does not routinely monitor your postings to the Website but reserves the right to do so if deemed necessary if it is related to the facilities offered on the web site and to comply with law.
Facilities Changes and Discontinuation The Website reserves the right to discontinue or suspend, temporarily or permanently, the facilities. Compliance with the Law You agree that you will not: Use any robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, programme, algorithm or methodology to access, acquire, copy or monitor the Website, or any portion of the Website.
Use or attempt to use any engine, software, tool, agent, or other device or mechanism including without limitation, browsers, spiders, robots, avatars or intelligent agents to navigate or search the Website, other than the search engines generally available by third party web browsers Post or transmit any file which contains viruses, worms, Trojan horses or any other contaminating or destructive features, or that otherwise interferes with the proper working of the Website or the facilities.
Attempt to decipher, decompile, disassemble, or reverse engineer any of the software, comprising or in any way making up a part of the Website or the facilities.
You agree not to use the facilities for illegal purposes or for the transmission of material that is unlawful, harassing, libelous untrue and damaging to others , invasive of another's privacy, abusive, threatening, or obscene, or that infringes the rights of others. Restrictions on Commercial Use or Resale Your right to use the facilities is personal to you; therefore, you agree not to resell or make any commercial use of the facilities. No Endorsements All product and facilities marks contained on or associated with the facilities that are not the Website marks are the trademarks of their respective owners.
Charges for use of Website There are no charges or fees to be paid by you for use of this Website. No Endorsement You are advised to be cautious when browsing on the internet and to use good judgment and discretion when obtaining information or transmitting information.
Electronic Communications These Terms of Use and any notices or other communications regarding the Facilities may be provided to you electronically, and you agree to receive communications from the Website in electronic form. Assignment You shall not assign your rights and obligations under this Agreement to any other party. Legal Disclaimers The information provided on or through the Website is for general guidance and information purposes only and they do not in any manner indicate any assurance or opinion of any manner whatsoever.
Force Majeure The Facilities Provider, ABC Companies and any of its Third Party Service Providers shall not be liable for any delay or failure in performance resulting directly or indirectly from acts of nature, forces, or causes beyond their reasonable control, including, without limitation, Internet failures, computer equipment failures, telecommunication equipment failures, other equipment failures, electrical power failures, strikes, virus, other malicious computer code, hacking, labour disputes, riots, insurrections, civil disturbances, shortages of labour or materials, fires, flood, storms, explosions, acts of God, war, earthquake, governmental actions, orders of domestic or foreign courts or tribunals, non-performance of third parties, or loss of or fluctuations in heat, light, or air conditioning.
Indemnification You agree to protect and fully compensate Facilities Provider, ABCL, ABC Companies, subsidiaries, licensors, suppliers and facilities providers, employees, officers and directors, from any and all third party claims, liability, damages, expenses and costs including but not limited to reasonable attorneys fees caused by or arising from your use of the facilities, your violation of the Terms of Use or your infringement, or infringement by any other user of your account, of any intellectual property or other right of anyone.
Termination Either party can terminate this Agreement by notifying the other party in writing. Governing Law and Jurisdiction The Website specifically prohibits you from usage of any of its facilities in any countries or jurisdictions that do not corroborate to all stipulations of these Terms of Use. Trending Articles. Trending in Protecting Recover Health Insurance Cover Amount Using Restoration Facility The restoration facility in health insurance, as the name suggests, replenishes the sum assured after you have used the entire amount within a calendar year.
Popularly Searched Terms. Tax Saving Investments Under 80C. How to Calculate Income Tax. Income Tax Benefit. Tax Saving Investment. What is Tax. SIP Calculator. Mutual Fund Lumpsum Calculator. Home Loan Eligibility Calculator. Personal Loan Eligibility Calculator. Latest Articles. ABC of Taxes. Read More. Protecting Solutions.
Investing Solutions.
0コメント