Taxes in India are levied by the Central Government and the state governments. Some minor taxes are also levied by the local authorities such as the municipalities and local government. The tax structure in India is divided into direct and indirect taxes. Direct Taxes in India are governed by Income Tax, Stamp Duty and Registration and Property Tax. Income Tax is a tax imposed on individuals or entities (taxpayers) that varies with respective income or profits (taxable income). Stamp Duty and Registration are levied for the transaction performed by way of sale/purchase / lease/ conveyance deed etc.
Indirect Tax are levied on goods and services and collected by intermediaries selling goods or services. Indirect Tax in India are governed by Goods and Service Tax, Customs duties, Central excise (Alcohol for human consumption and Petroleum) and Value Added Tax (Alcohol for human consumption and Petroleum products). Goods and Service Tax is a indirect tax collected on supply of goods or service. Customs duty is a tax on import & export of goods in India with specific rates on certain types of goods.
- Transaction Advisory
- Registration & Return
- Compliance Management
- Refund, Assessment & Audit
- Appearance before Regulators
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