Ruhi Sharma

29-10-2019 10:39 AM

For a layman, what is the best way to understand the taxation system in India?

Yeshu Garg

26-02-2020 12:37 AM

In India, there are two systems of taxation, one is direct tax i.e. Income Tax (charged on income) and second is indirect tax i.e. majorly GST-Goods & Services Tax (charged on expenses).

CA Ankit Gupta

25-07-2020 10:49 PM

Indian Taxation system is divided in to two segment, Direct Tax and Indirect Tax. As the name suggests, direct taxes are those that are levied directly on taxpayers — the income-tax, wealth tax, corporation tax, etc. In other words, it is a type of tax where the impact and the incidence fall under the same category. An indirect tax is one that is not paid directly by a person to the government but collected by an intermediary and passed on to the government. Indirect taxes are imposed on goods and services on the basis of production, supply, sale or purchase of products or provision of services, in the form of goods and services tax (GST)

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