In practically every nation on the planet, governments impose taxes as mandatory levies on people or things. Taxation is primarily used to generate money for government spending, though it can also be used for other things. Taxes are the primary source of governmental income in modern economies. Taxation is not, however, a government's only source of income. With the exception of payroll taxes, taxes are forced levies that are unrequited, meaning that they are often not paid in exchange for a particular good or service. A direct tax is a sort of taxation that is usually based on the ability of the taxpayer to pay as determined by income, spending, or net worth. A type of taxation known as an indirect tax is imposed either on the transaction itself or on the production or consumption of goods and services. Value-added tax (VAT) is an indirect taxation method used by governments to collect money from businesses that increase the price of goods as they are produced and distributed. The credit technique, which identifies and takes into account the taxes paid on prior input purchases, is used to collect VAT.
FOR MORE DETAILS PLEASE CONTACT US AT 9871525434.`
- Best Faculty of Taxation in Pitampura
- Best Faculty of Taxation in Rohini
- Best Faculty of Taxation in Prashant Vihar
- Best Faculty of Taxation in Kohat Enclave
- Best Faculty of Taxation in Shalimar Bagh
- Best Faculty of Taxation in Ashok Vihar
- Best Faculty of Taxation in Adarsh Nagar
