What is GST?

What is GST?

GST (Goods and Services Tax) is an indirect tax levied on the supply of goods and services.

GST (Goods and Services Tax) is an indirect tax levied on the supply of goods and services.

What is Income Tax?

• Key Differences

What is Income Tax?

Income tax is a direct tax levied on an individual or entity's income.

Income tax is a direct tax levied on an individual or entity's income.

Key Differences

Aspect

GST

Income Tax

Type of Tax

Indirect

Direct

Levied On

Goods & Services

Income

Authority

Central & State Governments

Central Government

Collection Point

At the time of transaction

Annually or quarterly

Conclusion

Conclusion

Both taxes play critical roles in a nation’s economy but differ significantly in their application and scope.

Both taxes play critical roles in a nation’s economy but differ significantly in their application and scope.