INTRODUCTION
TAXATION is the system in which government or taxation authority forces or charge a tax on its citizens and business entities from goods and service tax (GST). Taxes apply to all levels.
TAXATION
A TAXATION is a financial charge which conducts by the state and central government of India. A state and central government play an important and purposeful role in the taxes of India. To effective process of taxation and ensure transparency in India. The state and central governments have begun various schemes reorganized over the last few years. one of the charges was goods and service tax (GST). Which smooths the tax regime on the sale and deliverance of goods and services in various countries.
THERE ARE TWO MAIN CATEGORIES IN TAXATION:
1. DIRECT TAX: The taxes, such as income tax which are imposed on the income and profits of the taxpayer.
EXAMPLE : INCOME TAX , LAND TAX ,PROPERTY TAX AND GIFT TAX ETC.
2. INDIRECT TAX: The taxes which are levied by the government upon goods and services before they reached the customer who ultimately pays the Indirect tax as the part of goods and services obtain.
EXAMPLE: SALES TAX, ENTERTAINMENT TAX, AND EXCISE DUTY ETC.
CONCLUSION: The biggest reason behind taxation is to build a stronghold on the economy. Its impact differs depending on the product upon which tax is imposed and the consumer uses the money. It could be said with some confidence that the tax system has been improved in India outstandingly enough to simplify the higher rate of the country‘s growth.
.