what is indirect tax?

Answers were Sorted based on User's Feedback



what is indirect tax? ..

Answer / vishal

I think Direct Tax means,'Any income accrued/received by
any 'Person')liable to pay directly to GOVT.'.

INDIRECT TAX: 'Any expenditure incurred/accrued on any
goods/services is eligile for tax by any 'PERSON'liable to
pay indirectly to GOVT.

Is This Answer Correct ?    43 Yes 33 No

what is indirect tax? ..

Answer / kaushal jha.

Direct tax means the amount which generate from taking
services, in other words tax amount alredy included in the
price which we pay and that part of amount is deposited as
tax by other person on behalf of customer that is called
indirect tax.

Is This Answer Correct ?    16 Yes 7 No

what is indirect tax? ..

Answer / gauranga mahala

indirect tax are those tax which are indirectly deposited
by taxpayer(custmoer)through others(manufacturer,wholesaler,
retailer)&the border of deposit of indirect tax is on the
producer,wholesaler,retailer& not on the consumers. example
EXAMPLE of indiracttax are:-
centralexciseduty,customduty,salestax(VAT),servicetax.

Is This Answer Correct ?    12 Yes 3 No

what is indirect tax? ..

Answer / rama

Indirect Tax is charged not directly its charged by the
other third party but paid by the 1st (seller) to the gov.

For eg: we sale product Rs.200 to the party in this the
seller (1st party) add VAT @12.5% that means total amount
is R.225. then 2nd party sale the product in the market to
consumer with inclusive VAT . But the seller will submit
the tax to the gov. But this tax is paid by consumer.

Is This Answer Correct ?    21 Yes 13 No

what is indirect tax? ..

Answer / abhijeet khandale

indirect tax mens amount which is idirectly included in
price of goods & which collected by manufacture from
dealer, by dealer from distributer, by distributer from
consumer. hear consumer paid tax indirectly to manufacture.
so this type of tax calledas indirect tax.

Is This Answer Correct ?    19 Yes 11 No

what is indirect tax? ..

Answer / amrita

an indirect tax (such as sales tax, value added tax (VAT),
or goods and services tax (GST)) 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
customer).

Is This Answer Correct ?    12 Yes 5 No

what is indirect tax? ..

Answer / suleman apenteng

Indirect taxes – include VAT and a range of excise duties
on oil, tobacco, alcohol. The burden of an indirect tax can
be passed on by the supplier to the final consumer –
depending on the price elasticity of demand and supply for
the product.

Is This Answer Correct ?    12 Yes 6 No

what is indirect tax? ..

Answer / jitender arora

Indirect Tax is the tax which is born by the consumer. It
is transferable from manfacturer to consumers like
VAT,Excise,Service Tax Ect.

Is This Answer Correct ?    12 Yes 6 No

what is indirect tax? ..

Answer / vinod agrawal aicar b school

tax has been classified in two types direct tax and
indirect tax direct tax can not be trasfered to another
person where as indirect tax can be trasfered to another
person. direct tax is charged on persons and inderect tax
is charged on commodities. indirect tax collected by
manufacturer from distributor and distributor from retailer
and then retailer from consumer that means indirectly
collected from consumer in chain process where as direct
tax is olny collected from assessee

Is This Answer Correct ?    12 Yes 7 No

what is indirect tax? ..

Answer / raosaheb gunjal

Indirect tax is opposite of direct tax. Indirect tax is not
related to indivisual besis, its recovered from indirectly
to consumer through the verious bulk quantity of goods or
services. In short Indirect tax means central excise tax
under the income tax act 1961.

Is This Answer Correct ?    2 Yes 0 No

Post New Answer

More Accounting AllOther Interview Questions

Sir i am fresher and i am going to join in an educational institution can you give me suggestions regarding how to work with Tally and what type of entry's may i get there.

1 Answers  


How the Basic salary will be fix for an employee?

3 Answers   Infosys,


Hi, I am preparing for Junior Accounts Officers test- APTRANSCO. Can any one suggest the model paper / Books available? john kadapa

0 Answers  


What is Mortgage Payment?

1 Answers  


What is finance lease

0 Answers   Capital IQ, Genpact,






Why we Add the net profit in the balance sheet ? Why we shows profit in the liability side of the balance sheet?

12 Answers  


EXPAND______________PLIP

1 Answers  


Expand---------SDRT

3 Answers  


Which Exchange determine Foreign ?

0 Answers  


Expand-------NBTA

0 Answers  


why BRS is used

5 Answers  


Is depreciation a expense or income?

0 Answers   Sail,


Categories