Difference between Indirect Tax Turnover Approach and Direct Tax Turnover Approach under GST terms
What is Direct Tax Turnover Approach? How does Indirect Tax Turnover Approach work under GST regime? What are the difference between Direct Tax Turnover Approach and Indirect Tax Turnover Approach?
Under GST system, the following information explains about Direct Tax Turnover Approach and Indirect Tax Turnover Approach.
As per GST terms, Direct Tax Turnover Approach means A third approach—which was described in the Thirteenth Finance Commission--is based on using income tax data which are available for about 94.3 lakh registered entities (including companies, partnerships, and proprietorships but not charitable organizations). Indirect Tax Turnover Approach means This approach, presented by the National Institute of Public Finance and Policy, estimates the base in a three step process. First, it estimates the goods base at the level of the States.
The details about Direct Tax Turnover Approach and Indirect Tax Turnover Approach with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on Direct Tax Turnover Approach and Indirect Tax Turnover Approach, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on Direct Tax Turnover Approach and Indirect Tax Turnover Approach separately below. You may kindly read the below links to know more about Indirect Tax Turnover Approach and Direct Tax Turnover Approach.
What is Direct Tax Turnover Approach under GST
Meaning of Indirect Tax Turnover Approach under GST
The above information easily explains about Indirect Tax Turnover Approach and Direct Tax Turnover Approach.
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