Taxation Basics Quiz

Direct tax and indirect tax

Direct tax is levied directly on income, while indirect tax shifts the burden to consumers of goods and services.

Income tax and wealth tax

<p>Goods and Services Tax (GST) 2017</p> Signup and view all the answers

<p>In indirect taxes, the burden is shifted to the consumers of goods and services, while in direct taxes, the burden falls directly on the taxpayer.</p> Signup and view all the answers

<p>To finance the welfare programs and policies of the government</p> Signup and view all the answers

<p>Direct taxes are levied on the income of the person, while indirect taxes are levied on the consumption of goods and services.</p> Signup and view all the answers

<p>Service tax</p> Signup and view all the answers

<p>Goods and Services Tax (GST)</p> Signup and view all the answers

<p>The burden of the tax is shifted to the person who consumes the goods and services.</p> Signup and view all the answers