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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


Team Careers360 16th Jan, 2024
Answer (1)
Team Careers360 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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