Income Tax, Capital Gains Tax, and Securities Transaction Tax (STT) are all forms of direct taxes, meaning they are levied directly on the income or wealth of individuals or entities. Goods and Services Tax (GST), however, is an indirect tax, levied on the consumption of goods and services, where the tax is paid by the consumer but collected and remitted to the government by the seller.
Find the odd one out:
Asked in WBCS Main Paper 5 2022 · Topic: Fiscal Policy & Revenue (Taxation System in India: Direct, Indirect taxes, and Tax Reforms (including GST))
More Economic Development questions
- Which of the following is not a direct tax in India?
- GST is imposed on
- What does GST stand for?
- Which of the following is not shared by the Central and the State Governments?
- For most goods and services, the Goods and Services Tax is shared by the Central and the State Governments in the ratio of
- When was GST imposed?
- Which is not an indirect tax in India?
- Find the odd one out: Direct-Taxes are