Question : Which of the following is not an indirect tax?
Option 1: Excise tax
Option 2: Goods and services tax
Option 3: Customs duty
Option 4: Wealth tax
Answer (1)
22nd Jan, 2024
Correct Answer: Wealth tax
Solution : The correct answer is a Wealth tax .
Wealth tax is not considered an indirect tax; rather, it is a direct tax. The distinction between direct and indirect taxes lies in how they are imposed and who bears the ultimate economic burden of the tax.
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