Highlights

  • Indirect taxes, as the name implies, are not paid directly to the government by individuals.
  • Indirect taxes have now been streamlined into the Goods and Services Tax.

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Budget 2024: Everything you need to know about indirect tax

When purchasing shoes, watching a movie, dining at a restaurant, or reserving a hotel stay, a portion of your payment contributes to indirect taxes.

Budget 2024: Everything you need to know about indirect tax

Amidst the fiscal intricacies of Budget 2024, indirect taxes play a crucial role in shaping the financial landscape for consumers.

Formerly a complex web of various levies, these have now been streamlined into the Goods and Services Tax (GST).

Indirect taxes, as the name implies, are not paid directly to the government by individuals. Instead, they are embedded in the cost of goods and services.

Whether you're buying a pair of shoes, enjoying a movie, dining at a restaurant, or booking a hotel stay, a fraction of what you pay contributes to indirect taxes.

Unlike direct taxes, this money takes a detour through the seller before reaching the government's treasury.


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