The taxes collected by the Indian Government can be categorized into Direct and Indirect Taxes. Direct Taxes are broadly the taxes which are levied on the Income, revenue or profits earned by an individual or firm, for instance, Income tax, Surcharge, and Gift Tax. These are implemented and governed by the Central Board of Direct Taxes (CBDT).

Indirect tax is a type of tax that is passed on to another individual or entity. Indirect taxes are generally levied on a manufacturer or supplier who then passes that tax to the final consumer. Examples of indirect taxes include sales tax, entertainment tax, excise duty, etc. These are levied on the sellers of goods or the providers of service, where it is passed on to the end consumer in the form of service tax, excise duty, entertainment tax, custom duty etc. One of the common examples of an indirect tax is the excise tax imposed on alcohol.

Indirect tax is the tax levied on a person upon consumption of goods and services. Indirect tax is not directly levied on the income of a person. He needs to pay the tax in addition to the actual price of goods or services purchased by the seller. Indirect is a tax that is passed on to another person. Generally, indirect tax is levied on sellers who pass it on to the final consumer.

In indirect taxes, the person on which the burden falls and the person who pays the tax are different. The sellers are required to pay these taxes to the government (e.g., manufacturers, retailers,). But since they sell goods to the consumers, they pass the burden of paying the tax to you.

Thus, when you purchase goods, you pay the amount inclusive of tax to the seller. The seller then pays the tax to the government.

Examples of indirect taxes are excise tax, GST, VAT (Value added tax), service tax, custom duty, sales tax, entertainment tax and Securities Transaction Tax.

Suppose you go out for dinner. In the bill, you may see your total amount plus the GST (Indirect tax). Let’s say the bill was Rs 2000 and the GST rate is 5%. Then you will have to pay 2000+100=2100. This Rs 100 is the indirect tax that is passed on to you by the service provider.

There are different types of indirect taxes in India. Listed below are some popular examples of indirect taxes:

Service Tax
Excise Duty
Value Added Tax
Custom Duty
Entertainment Tax
Stamp Duty
Securities Transaction Tax

Our company services indirect taxes consulting, advisory India, indirect tax consultants, indirect taxation advisory, Service Tax Consultants in India, Tax Consultants in india. The Indirect Tax regime in India comprises a plethora of laws, rules and regulations at the central as well as the state level. Our team stays updated with the developments on tax policies, administration and key judicial pronouncements, thereby identifying threats and opportunities for providing innovative tax solutions to our clients.

While majority of the indirect taxes have been integrated into GST, the businesses still have to deal with these erstwhile indirect taxes – particularly the legacy issues, assessments, audit and enquiries by the department, etc.

We render our services for the following:

GST (GOODS AND SERVICES TAX)
Custom Services

Goods and Services Tax is a latest reform of Indian Indirect Tax. It is a consumption based Indirect Tax applicable on the goods and services or both. It is a comprehensive, multi-stage, destination-based tax.

It is a multi-staged tax, as the GST is imposed at every step in the production process and trading but is meant to be refunded to all registered person in the various stages of production and trading other than the final consumer.

It is destination-based tax, it is collected from point of consumption and not point of origin like previous taxes.

Rate of GST: Goods and Services are majorly divided into different tax slabs for collection of tax like 0%, 5%, 12%, 18% and 28%.

However, petroleum products like crude oil, diesel, petrol, natural gas and ATF, Alcohal for human consumption and electricity are not under GST.

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FINNTAXES.COM provides comprehensive range of specialized tax and advisory support services in matters of indirect taxation particularly in GST. The company provides tailored GST solutions as per the client’s business requirements through a big team of expert, tax consultants with real-time tax consulting experience. The company offers the following customized, business-friendly GST services for our clients across India from GST implementation to management, advisory and other support services.

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