Explain direct and indirect taxes. (500 words)

The direct tax are those types of tax that are directly imposed to an income, profits or the assets of a person or a firm. For example, income tax, corporate, and inheritance tax, are some of the category. Indirect tax is levied on created or sale of goods and services. For example, GST, duties of customs and excise etc. The alternative arise from direct taxes that are paid directly by the entity and indirect taxes that are paid by consumers