Difference between Direct Taxes and Indirect Taxes
Direct
Taxes
|
Indirect
Taxes
|
Payer of tax and sufferer of tax
one and same (i.e. impact and incidence on the same person)
| |
Income based taxes
|
Supply based taxes
|
Rate of taxes are different from
person to person
|
Rate of duties are not differ
from person to person
|
Entire revenue goes to Central
Government of India
|
Revenue source to Central
Government of India as well as State Governments (i.e. CGST and SGST)
|
Previous year income assessed in
the assessment year
|
There is no previous year and
assessment year concept
|
Central Board of Direct Taxes
(CBDT) is an important part of Department of Revenue.
|
Central Board of Excise and
Customs (CBEC) is an important part of Department of Revenue.
The Central Board of Excise &
Customs is being renamed as the Central Board of Indirect Taxes & Customs
(CBIC), after getting legislative approval.
|
Progressive nature.
|
Regressive nature.
|
1. Balachandran V - Indirect Taxes
2. ICAI - Indirect Taxes
3. ICSI - Indirect Taxes
4. ICMAI - Indirect Taxes
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