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An indirect tax is collected by an middleman (for instance a retail store) from the individual (like The buyer) who pays the tax included in the cost of a bought fantastic. The middleman later files a tax return and forwards the tax proceeds to govt Using the return. How it really works: Every single business alongside the output chain pays a VAT
In the sooner indirect tax regime, there have been quite a few indirect taxes levied by both equally the point out and the centre. States largely gathered taxes in the shape of price additional Tax (VAT). each and every point out experienced another list of procedures and restrictions. Lorem Ipsum continues to be the market's typical dummy textual