Example of Indirect Tax

Indirect taxes are those which are levied or imposed on goods or services and not on the income of the individual and therefore they affect the individuals indirectly as prices of goods and services which the consumer use rise when they are levied. Given below are some of the examples of indirect tax –

  1. Excise Duties
  2. Sales Tax
  3. Service Tax
  4. Custom Duties
  5. Value added Tax (VAT)

As one can infer from above examples raising any of the above will not directly affect the person but rather it will affect them indirectly and hence it is used by governments all over the world along with direct taxes in order to meet its budgeted revenues.

0 comments… add one

Leave a Comment

Related pages

market skimming pricing strategyjournal entry for prepaid rent receivedforex reserves by countrywhat is the difference between crr and slradvantages and disadvantages of cost accountingslr in rbidefinition of merits and demeritswhat is the meaning of conglomerate companydifference between capitalist and socialistexamples of current liabilities in accountingadvantages of merger and acquisition pdfdecentralised structurebenefits of jitadvantages of the payback methodwhat is conservatism conceptexplain capmdefinition of drawer drawee and payeedisadvantages of price skimmingdifference between horizontal and vertical analysisdifference between macro and micro economyhire purchase accounting questions and answersbarter system meaningwhat are leverage ratiosadvantages and disadvantages of decentralisationconglomerate diversification examplesasset revaluation journal entrydefine unitary elastic demandadvantages of mergershow to fill out a withdrawal slip at a bankhorizontal analysis of financial statementsmonopoly price makerlimitations of zero based budgetingunearned fees journal entryasset vs liability definitionactivity based budgeting disadvantageswhat is an unearned revenueunsystematicdisadvantages of barterhorizontal analysis definitionadvantages of trading internationallytraditional subsistence economynormal and inferior goodswhat are the disadvantages of commodity moneydefine inferior goods in economicsautocratic leadership styleswhat is factoring in bankingdefine demand deposit accounteffectiveness of autocratic leadershipdiversifiable risk refers to risklifo benefitsnarendra modi wiki in hindi languagedeferred revenue journal entryadvantages and disadvantages of functional organizational structurelong form of tdsfmcg full formdefine consignoradvantages and disadvantages of inventoryexample of unitary demandthe accounting for cash discounts and trade discounts arewhat are manufacturing overheadstransfer pricing disadvantagesmarketing penetration strategy examplecrossing of chequesunitary elastic demand exampleskim strategydefinition monopolistic competitionwhat are the differences between horizontal analysis and vertical analysisdefinition of marginal costingadvantages and disadvantages of being an accountantdirect and indirect quotations examplesslr and clradvantages and disadvantages of capitalism and socialismunsystematic risk examplebenefits of command economy