Ever wonder what indirect taxes are and how they impact you? To put it simply, an indirect tax is a kind of tax that is passed on to you through the purchase of goods and services rather than being imposed directly on you as an individual. Unlike direct taxes like income tax, this tax is usually included in the cost of the goods or services you purchase, making it less obvious. Understanding the Basics Sales taxes, value-added taxes (VAT), excise taxes, and customs charges are a few examples of indirect taxes. The government levies these taxes on companies, and in the end, consumers bear the brunt of these taxes in the form of increased costs. Businesses collect indirect taxes on behalf of the government, whereas individuals or businesses pay direct taxes to the government. How Does Indirect Tax Work? The amount you pay when you buy a good or service includes any applicable indirect taxes. For instance, the price listed on the tag for clothing you purchase at a retail store already in...

 In India, when you want to move goods and pay taxes, this is a very important document. It was introduced as part of the Goods and Services Tax (GST) system to make sure that there is control over the movement of things within the country so that people do not escape paying taxes. If one is moving something between states in India, this small paper can be very critical. But then what happens whenever it lapses? This article provides insight into the consequences of having an expired e-way bill and how to avoid them. Importance Of E-way Bill? There are many reasons why the e-Way Bill is essential. To begin with, It acts as a way to streamline logistics through its use by all parties concerned. Two, it ensures adherence to Goods and Services Tax (GST) regulations which helps in the easy identification of products by government officials and thus proper taxation. Validity Of E-way Bill? How long an e-Way Bill is good for depends on how far the things need to go. For example, a dista...