Question

the taxes on individual and firms are (A) Direct taxes (B)indirect taxes (c) fixed taxes (D) non tax revenue

Answer 1

Answer:

direct tax is right answer

Answer 2

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GST calculation can be explained by simple illustration : If a goods or services is sold at Rs. 1,000 and the GST rate applicable is 18%, then the net price calculated will be = 1,000+ (1,000X(18/100)) = 1,000+180 = Rs. 1,180

What are the types of GST?

Currently, the types of GST in India are CGST, SGST and IGST. This simple division helps distinguish between inter- and intra-state supplies and mitigates indirect taxes. To learn more, read about these 3 different types of GST.

Types of GST in India- CGST, SGST & IGST

How do I calculate GST?

The formula for GST calculation:

Add GST: GST Amount = (Original Cost x GST%)/100. Net Price = Original Cost + GST Amount.

Remove GST: GST Amount = Original Cost – [Original Cost x {100/(100+GST%)}] Net Price = Original Cost – GST Amount.

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