Interested to Buy Any Domain ? << Click Here >> for more details...
Short Answer on __________Indirect Taxes
- 2 Answers
- 4345 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / ameet narayankhedkar
Governments provide a lot of services for the country. And
those services are not free. In order to pay for those
services they charge everyone taxes.
Taxes is how we pay for all the services we demand from our
country. Even if you do not use them the idea is that we are
united as one nation and we all pay our share.
Indirect taxes are:
To raise government revenue - to effectively raise revenue,
indirect taxes can be imposed upon price inelastic products
so that demand does not fall and thus revenue is gained
without impacting firms.
· To discourage consumption - higher prices will discourage
some spending on all products with a PED value of more than
1.
· To alter the pattern of consumption - certain goods can be
made more price attractive through lower taxes while goods
which have high marginal social cost can be made expensive
through taxation; e.g. increasing fuel taxes on airlines to
better reflect the damage they cause.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / murali krishna
Direct Taxes, as the name suggests, are taxes that are directly paid to the government by the taxpayer. It is a tax applied on individuals and organizations directly by the government e.g. income tax, corporation tax, wealth tax etc.
Indirect Taxes are applied on the manufacture or sale of goods and services. These are initially paid to the government by an intermediary, who then adds the amount of the tax paid to the value of the goods / services and passes on the total amount to the end user.
Examples of these are sales tax, service tax, excise duty etc
| Is This Answer Correct ? | 0 Yes | 0 No |
what are all the books maintained in accounts for the purpose of excise?
20 Answers Alnkey Financial, mssl, Puneet, Videocon,
Financial Management vs Management accounting?
what do we mean we say that accounting is a means rather than an end?
What is Budgeted capital ?
accounting rules
what is the difference between cash flow and fund flow?
fill in the Blanks a part or full HRA will be exempted if _________made for his residence
why should the company give first perference to the perference shareholders?
fill in the Blanks Recognising Revenues when cash is received is __________basis of accounting
TDS is for claming purpose or for filing purpose.
contiagent liabilty
what is the capital gains
Audit 
