What is Direct Taxes & Indirect Taxes?
As the name suggests Direct tax means the tax which is directly paid to the government by individuals and the companies.
Ex: Corporate Tax, Personal Income Tax, Securities Transaction Tax, Banking Cash Transaction Tax, and the Fringe Benefit Tax
As the name suggests Indirect Taxes are those taxes which are paid indirectly to government by the individuals or the companies.
Ex: Sales Tax, Service Tax, Custom and Excise Duties, VAT and Anti-Dumping Duties