Concept of Indirect Taxes

Question 1

what are the four sub-modules of this module?

Answer 1

1. Concept and features of IDT
2. Difference between DT and IDT
3. Background of erstwhile IDT
4. Constitutional validity of GST

Question 2

What are the features of indirect taxes?

Answer 2

In the name of SOCIAL WELFARE putting a BURDEN on people availing TAX ON GOODS AND SERVICES with a WIDER TAX BASE and REGRESSIVE IN NATURE, it’s leads to INFLATIONARY IN NATURE with NO PINCH.

Question 3

Difference between direct and indirect tax

Answer 3

1. Meaning
2. Nature
3. Incidence and Impact
4. Example
5. Evasion
6. Inflation
7. Imposition and Collection
8. Burdan
9. Event

Question 4

what are the Issues in the pre-GST regime?

Answer 4

1. CT and ST separately taxing GS
2. Many taxes i.e. ED, ST, VAT, CST, PT, ET, O
3. Multiple rats, law & procedures
4. Tax on tax
5. Input credit chain broke
6. Bottleneck