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Answer Posted / n ravi
The Direct tax is charged on individual, HUF, Firm and
companies depends on the income earned. In addition there
is provision for claiming rebate or deductions allowed from
the gross income and then NET taxazble income is arrived.
Finally if any individual does not have suffiicent income,
then he need not pay the direct tax.
On the other hand the Indirect Tax is charged on all the
buyer irrespective of their income. The advantage for
company registered under the excise, service tax, VAT, they
are allowed to avail the tax paid by them at the time of
purchase as input tax credit. This input tax credit is
allowed for adjusting the out put tax payments i.e tax
payable on sale of goods
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