Frequently Asked Questions on Taxation in India
Q1
Q 1. What are the major state taxes in India?
Ans. There are two major state taxes in India. These include State Goods & Services Tax
(SGST) and Stamp Duty and Registration.
Q2
Q 2. What is the Goods and Services Tax?
Ans. GST is a comprehensive indirect tax levied on the manufacture, sale and consumption of
goods as well as services at the national level. It has replaced all indirect taxes levied on goods
and services by the Central and State Governments.
Q3
Q 3. Which are the major Central Taxes in India?
Ans. There are four major Central Taxes in India:
Income Tax
Central Goods & Services Tax (CGST)
Customs Duty
Integrated Goods & Services Tax (IGST)
Q4
Q 4. What is the difference between Direct and Indirect Tax?
Ans. A direct tax can be defined as a tax that is paid directly by an individual or organization to
the imposing entity (generally government). Whereas, Indirect taxes are basically taxes that can
be passed on to another entity or individual.
Q1
Q 1. What are the major state taxes in India?
Ans. There are two major state taxes in India. These include State Goods & Services Tax
(SGST) and Stamp Duty and Registration.
Q2
Q 2. What is the Goods and Services Tax?
Ans. GST is a comprehensive indirect tax levied on the manufacture, sale and consumption of
goods as well as services at the national level. It has replaced all indirect taxes levied on goods
and services by the Central and State Governments.
Q3
Q 3. Which are the major Central Taxes in India?
Ans. There are four major Central Taxes in India:
Income Tax
Central Goods & Services Tax (CGST)
Customs Duty
Integrated Goods & Services Tax (IGST)
Q4
Q 4. What is the difference between Direct and Indirect Tax?
Ans. A direct tax can be defined as a tax that is paid directly by an individual or organization to
the imposing entity (generally government). Whereas, Indirect taxes are basically taxes that can
be passed on to another entity or individual.
