Question

discuss the various types of taxes​

Answer 1

Answer:

Direct Tax

The definition of direct tax is hidden in its name which implies that this tax is paid directly to the government by the taxpayer

The general examples of this type of tax in India are Income Tax and Wealth Tax.

From the government’s perspective, estimating tax earnings from direct taxes is relatively easy as it bears a direct correlation to the income or wealth of the registered taxpayers.

Indirect Tax

Indirect taxes are slightly different from direct taxes and the collection method is also a bit different. These taxes are consumption-based that are applied to goods or services when they are bought and sold.

The indirect tax payment is received by the government from the seller of goods/services.

The seller, in turn, passes the tax on to the end-user i.e. buyer of the good/service.

Thus the name indirect tax as the end-user of the good/service does not pay the tax directly to the government.

Some general examples of indirect tax include sales tax, Goods and Services Tax (GST), Value Added Tax (VAT), etc.

Answer 2

Their are two types of taxes namely , direct taxes and indirect taxes , The implementation of both the taxes

differs ,you pay some of them directly ,like the cringed income tax ,corporate tax and wealth Tax etc while you pay some of. the taxes

indirectly ,like sales tax ,service tax and value added tax etc.

here your answer mate!!!

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