Question

Which of the following taxes are included in price?

• A. Direct tax
• B. Wealth tax
• C. Income tax
• D. Indirect tax

Answer 1

The correct option is D Indirect tax

$\Rightarrow$ Direct taxes refer to taxes that are filed and paid by an individual directly to the government.

$\Rightarrow$ Wealth tax and Income tax are types of direct taxes.

$\Rightarrow$ The prices included the taxes like Goods and Services Tax (GST), Service Tax, Value Added Tax (VAT), Sales Tax. These are the indirect taxes.

$\therefore$ Taxes included in price are Indirect tax.