In practically every nation in the world, taxes are mandatory fees imposed by governments on persons or corporations. Taxes can be used for other reasons, but its main function is to generate money for government spending. In India, there are two different kinds of taxes: direct tax and indirect tax. Value-added tax, service tax, goods and services tax, customs duty, and other taxes are examples of indirect taxes, whereas income tax, gift tax, capital gain tax, and other taxes are examples of direct taxes. In practically every nation in the world, taxes are mandatory fees imposed by governments on persons or corporations. Taxes can be used for other reasons, but its main function is to generate money for government spending.

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