Answer Posted / abdul wajid.
Indirect taxes are the charges that are levied on goods and
services. Some of the significant indirect taxes include VAT
(Value Added Tax), sales tax, excise tax, stamp duties and
expenditure tax.
Unlike Direct Taxes, Indirect Taxes are not levied on
individuals, but on goods and services. Customers indirectly
pay this tax in the form of higher prices. For example, it
can be said that while purchasing goods from a retail shop,
the retail sales tax is actually paid by the customers. The
retailer eventually passes this tax to the respective
authority. The indirect tax, actually raises the price of a
good and the customers purchase by paying more for that product.
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