what is indirect tax?

Answers were Sorted based on User's Feedback



what is indirect tax? ..

Answer / anjali

Taxes imposed on commodities.........

Is This Answer Correct ?    2 Yes 1 No

what is indirect tax? ..

Answer / shivani

Indirect tax is that tax which charged indirectly. Means it real burden goes to final consumer . just like vat etc. A producer sell the goods including tax, then retailer sell the goods by adding its own tax, etc . like this tax final burden goes to that person goes to final consumer who is going to purchase the goods for consumption.
In nut shell we can say a tax which is indirectly charged by seller is known as indirect tax .

Is This Answer Correct ?    2 Yes 1 No

what is indirect tax? ..

Answer / sagar arora

That everybody knows indirect tax means those taxes who are
paid by indirectly by the assessee.it means indirect tax is
paid in the behalf of cosultant.
example:service tax,vat,payrool and excise duty.these are
the indirect tax

Is This Answer Correct ?    2 Yes 1 No

what is indirect tax? ..

Answer / sanjay

indirect tax is a tax which is paid indirectly

Is This Answer Correct ?    1 Yes 0 No

what is indirect tax? ..

Answer / santoshhotker gug

indirect dax is that tax which can be transferd persan to
persan.Indirect Tax is the tax which is born by the
consumer. It
is transferable from manfacturer to consumers .

Is This Answer Correct ?    1 Yes 0 No

what is indirect tax? ..

Answer / mayur

Indirect Tax :

A tax that is not assessed on and collected from those who
are intended to bear it. Unlike a direct tax,it cannot take
individual circumstances into account. Although levied on
producers, the burden of an indirect tax may be 'shift' to
consumers.
Ex: value added tax, sales tax, payroll tax and excise
duties

Is This Answer Correct ?    1 Yes 0 No

what is indirect tax? ..

Answer / neha

Indirect Tax is those Tax which is not Direct Tax,In
Indirect tax is paid by other person and bear by other
person.
or
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 ?    1 Yes 0 No

what is indirect tax? ..

Answer / lijo

A tax which is not directly paid by the taxpayer, but it is included in his/her expenses. A sales tax is an indirect tax, you pay it when you purchase something.

Is This Answer Correct ?    1 Yes 0 No

what is indirect tax? ..

Answer / priya

* Indirect taxes are tose taxes which are paid by the tax payer indirectly while purchasing some goods or commodity and when hiring some services.

* Under Indirect taxes the impact and incidence fall on different persons.

Thus Indirect tax can be shifted from one person to another person.

Is This Answer Correct ?    1 Yes 0 No

what is indirect tax? ..

Answer / himanshu tomar

AN INDIRECT TAX IS A SUCH TYPE OF TAX ,THE BURDEN OF WHICH
CAN BE SHIFTED TO OTHER,THE IMPACT AND INCIDENCE OF
INDIRECT TAXES ARE ON DIFFERENT PERSON.

Is This Answer Correct ?    1 Yes 1 No

Post New Answer

More Accounting AllOther Interview Questions

How many accounting standards in india

90 Answers   Ashok Leyland, Banking, dscl, Genpact, HSBC, IndiaCom, ITC Infotech, Leighton, MBA, Ramaniyam Real Estates, Shriram, SKA, SVSM,


what are responsibilities of an accountant in a company?

0 Answers   Adhunik, DOT, State Bank Of India SBI,


DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in Haryana. The company’s sales in the year ending on 31st March 2007 were Rs.1000 million (Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of return of the company is 14 percent. The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30million per annum. The plant can be sold for Rs.55 million at the end of its economic life. The company would need to raise debt to the extent of Rs.200 million. The company has the following options of borrowing Rs.200 million: a. The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annual installment of interest and repayment of principal. b. A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: 1. Should the company expand its capacity? Show the computation of NPV 2. What is the annual installment of bank loan? 3. Calculate the quarterly installments of the Financial Institution loan 4. Should the company borrow from the bank or from the financial institution?

0 Answers  


What is the meaning of Blue chip?

1 Answers   Kotak,


Expand-------ACDR

1 Answers  






what is the meaning of Journal Ledger?

11 Answers  


EXPAND___________LTTE

3 Answers  


what is tds rate 2009-10 for 1.contractors 2.commission 3.advertisement

3 Answers  


Expand B C D

2 Answers  


Is the Opening Stok and Closing stock both will appear in the trial balance ?

4 Answers  


CONTIGENT LIABILITYES

11 Answers   Accenture, Genpact, Siemens,


EXPAND______________RRC

2 Answers  


Categories