Explain What is the incidence of tax?
Submitted by: AdministratorTax incidence can be divided into-
1. Formal incidence: the party liable to the tax
2. Informal incidence: party, who actually pays the tax
The tax incidence is decided by the elasticity of demand and supply for a good or service.
Submitted by: Administrator
1. Formal incidence: the party liable to the tax
2. Informal incidence: party, who actually pays the tax
The tax incidence is decided by the elasticity of demand and supply for a good or service.
Submitted by: Administrator
Incidence of Tax means that upon which the liability to pay tax falls. For Instance Direct Tax such as Income Tax, Wealth Tax incidence of tax Falls directly to the person.But in case of Indirect Tax such as Excise Duty, CST, VAt incidence of Tax Indirectly Falls upon ultimate customer.
Submitted by: Ashish Jha
Submitted by: Ashish Jha
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