Advantages and disadvantages 1.Fairness: Direct taxes are base on a persson’s income or wealth, so those who earn more pay more, which is seen as fair. 2.Progressive: Direct taxes are design to be progressive, meaning that the tax rate increases as the income or wealth of the taxpayer increases, which helps to reduce income inequality.… Read More »
Introduction What does it mean when we say GST is a destination based tax? Goods and Services Tax (GST) is a revolutionary tax reform that has streamlined indirect taxation in many countries, including India. One of its key features is that it is a “destination-based tax. ” This means that the government levies tax at… Read More »
Which state does not accept GST in India? User Intent Users searching for this topic likely want to know if any state in India has rejected the Goods and Services Tax (GST) and the reasons behind it. This article will provide a detailed breakdown of the issue, covering its definition, applications, benefits, limitations, and comparisons.… Read More »
Introduction Salt is one of the most essential commodities in daily life, used in cooking, food preservation, and even industrial applications. Given its significance, a common question arises: Are we paying tax for salt in India? This article explores the taxation policy on salt, its benefits, limitations, applications, and other related aspects. Definition Salt, chemically… Read More »
Indirect Tax Indirect tax is a type of tax that is imposed on goods and services rather than on individuals or companies directly. The taxes often embed in the price of goods and services and typically collect by the supplier or seller of the goods or services on behalf of the government. Examples of the… Read More »
Tax Inclusive vs Tax Exclusive Both Tax inclusive and tax exclusive are two different methods of presenting the price of a product or service that includes or excludes taxes. Tax exclusive vs Tax inclusive can explain in details as follow: For more information to visit https://www.mca.gov.in Tax inclusives refers to the price of a product… Read More »
