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Which of the following is an indirect tax?
Excise Duty
Sales Tax
Custom Duty
All of these
- Excise Duty:
- This is a tax imposed on the manufacture of goods within a country.
- It is included in the price of the product, so the consumer indirectly pays for it.
- Sales Tax:
- This is a tax levied on the sale of goods and services.
- It is typically charged at the point of sale. The buyer pays the tax, and the seller forwards it to the government.
- Custom Duty:
- Levied on goods imported into a country.
- Paid by the importer, but ultimately affects the price for consumers.
- Correct Answer: Option:4 - All of these
- All these taxes are forms of indirect taxes as they are paid by one entity, but ultimately passed on to the consumer.
By: santosh ProfileResourcesReport error
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