Answer Posted / h.r. sreepada bhagi
Direct Taxes - Taxes levied by the Government on the
assessee and borne by the assessee (Individual, Firm, Trust,
HUF, Company, etc.) Direct taxes can not be passed on by the
assessee to some other person/entity. Examples - Income Tax,
Wealth Tax, Gift Tax, etc.
Indirect Taxes - Taxes levied by the Government on the
assessee, who in turn can pass on the burden on any other
individual/entity in full or part. Examples - Excise Duty
(Cenvat), Sales Tax(VAT/CST), Service Tax, etc.
| Is This Answer Correct ? | 16 Yes | 1 No |
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