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EDUCATION ADVICE

Navigating Indirect Taxes: Understanding the Impact and Compliance Requirements

Indirect taxes refer to the tax imposed on the expenses incurred by individuals while buying goods and services. Unlike direct taxes, these taxes are not directly charged to the income of individuals. Levied by the government, an indirect tax is chargeable under expenditure, services, consumption, and privileges. This comprises custom duties paid on imports, excise duty involved in production, etc. Indirect taxes are…