How do indirect taxes affect firms?

The imposition of either type of indirect tax has an effect similar to a rise in production costs. This means that a firm’s supply curve will shift up vertically by the amount of the tax.

What are direct and indirect taxes in India?

Direct tax is levied and paid for by individuals, Hindu undivided Families (HUF), firms, companies etc. whereas indirect tax is ultimately paid for by the end-consumer of goods and services. The burden of tax cannot be shifted in case of direct taxes while burden can be shifted for indirect taxes.

Which is better audit or tax?

Independent work – while the audit department works on a team, tax professionals have more opportunity for independent work. While there is always someone available for questions if needed, if you prefer to work on projects on your own, then tax might be a better fit.

Who pays indirect tax?

The eventual tax amount is paid by the buyer of the goods and services. To put it simply, indirect taxes are those taxes that can be shifted from one individual to another. It is not levied directly on the income of the taxpayer, but is levied on the expenses incurred by them.

Is GST indirect tax?

GST is known as the Goods and Services Tax. It is an indirect tax which has replaced many indirect taxes in India such as the excise duty, VAT, services tax, etc. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017 and came into effect on 1st July 2017.

What are the advantages of doing articleship in a small firm?

You have to communicate with your seniors and they will communicate (if needed) to the boss. But in small firms, whenever you face any problem whatever the problem may be you can directly communicate it with your boss, one another fascinating advantage of doing articleship in small firms.

What is the impact of articleship on company secretary job?

On a different note, the impact of where the articleship is been done not affect as long as you have inhibit the skills and knowledge to be a good Company secretary. 3. Workload and managing studies

What is articleship in ca?

Articleship is referred as a golden period in a CA Student journey and the most important part of Chartered Accountancy course. Therefore, it is important to decide from where you want to complete your practical training.

Is the articleship period the most important part of your career?

Remember, the articleship period is one of the most critical time period during your CS journey as it prepares you into your professional journey once you complete all your exams! So when things get too difficult, always think about your future as a Company Secretary to give you more motivation to focus on learning.