Tax System & Taxation in India

12 Aug 2022

Taxes are a critical and biggest supply of profits for the authorities. The authorities make use of the cash amassed from taxes for diverse tasks for the improvement of the nation. The Indian tax machine is nicely established and has a three-tier federal structure.
The tax structure consists of the central government, state governments, and local municipal authorities. When it comes to taxes, there are two types of taxes in India: direct and indirect taxes. Direct tax includes income tax, gift tax, capital gains tax, etc. while indirect tax includes VAT, service tax, property tax, services, customs duties, etc.
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