Discuss the relative merits and demerits of direct and indirect taxes
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merits of direct taxes
it provide revenue to govt.
progressive in nature
higher tax for higher income earner
lower tax for low income earner
merits of indirect tax
pass tax burden from supplier to final customer
can claim credit of tax paid
source of revenue to govt
it provide revenue to govt.
progressive in nature
higher tax for higher income earner
lower tax for low income earner
merits of indirect tax
pass tax burden from supplier to final customer
can claim credit of tax paid
source of revenue to govt
Answered by
2
Direct and Indirect Tax: : :Merits and Demerits. ... Taxes may be classified as direct and indirect. Direct taxesare levied on a person's or a firm's income or wealth and indirect taxeson spending on goods and services.
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