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Direct and Indirect Taxes

Direct and Indirect Taxes

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Published by: Rakesh314 on Aug 29, 2010
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10/08/2011

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BEP: 114 Business Environment & Policy 
Faculty: KULBIR SINGH
 
Introduction: direct taxes
´
 A tax which is paid by the person on whom it is legally imposed and the burden of which cannot be shifted toany other person is called a direct tax.
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 J.S. Mill defines a direct tax as one which is demandedfrom the very persons who, it is intended or desired,should pay it.
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Thus, the impact, that is, the initial first burden andthe incidencethe ultimate burden of the direct tax ison the person himself.
Faculty: KULBIR SINGH2
 
Introduction: indirect taxes
´
 An indirect tax, is a tax, the burden of which can be shiftedto others
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The impact and incidence of indirect taxes are on differentpersons.
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 An indirect tax is levied on and collected from a person who manages to pay it on to some other person or personson whom the real burden of the tax falls. The tax payer isnot the tax bearer.
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Commodity taxes are generally indirect taxes as they areimposed on producers or sellers, but their incidence fallsupon the consumers as such taxes are wrapped up in theprices.
Faculty: KULBIR SINGH3

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