Please enable JavaScript.
Coggle requires JavaScript to display documents.
6.2 Tax - Coggle Diagram
6.2 Tax
2) Direct Tax
6% Equalization Levy
15% Minimum Alternate Tax(Companies) OR Alternate Minimum Tax(Cooperatives)
abolished Dividend Distribution Tax
Short Term/Long Term Capital Gain Tax
20% Buy Back Tax on buying its own share from Market by company
30% Angel Tax - for startup not registed with DPIIT on Angel Investment
Presumptive Taxation - “x%” of their gross receipts + surcharge + cess for self-employed freelancer/professional(doctor/lawyer etc)
Professional tax - by some state govt on profession(excluding farmers) up to 2500 per year
Advance Tax - Advance Quarterly Installment for Income & Corporate Tax
Surcharge - Tax on Tax + CFI->GoI + No Clear Objective
Cess - Tax on (Tax + Surcharge) +
Public Account
-> GoI + Clear Objective
Tax Deducted at Source - Collected by buyer
Tax Collected at Source - Collected by seller
3) Indirect Tax
Pigouvian Tax
-ve externality
Excise(on some domestically produced goods) & Customs(on export/import of goods/services)
Petrol & Diesel
Union(Basic excise + Special additional excise + Road Infrastructure cess + Agriculture infrastructure and development cess -> ₹33/₹42 + Additional Differential Excise Duty->₹0/2 for Ethanol Blended/Unblended Petrol) + State VAT(₹20/₹15) = 135%/116% Tax on Base Price
Windfall Tax
GST
GST Compensation Cess till 2026
Tobacco & cigarettes, Petrol, Diesel, CNG, LPG, Luxury Vehicles, Beverages
Zero Rated GST(0% GST + ITC on input)
GST Exempt/NIL Rated(0% GST + no ITC on input)
GSTIN by CBIC
GSTIN holder must have PAN and separate GST registration for each State
Replaced with CGST
Central Sales Tax(Inter-state tax -> IGST),
Excise
Duty(special case - Tobacco products - 14% CGST. Further, Union also levies + GST Compensation Cess + National Calamity Contingency Duty)
Not replaced with CGST
Custom
Duty, Anti Dumping Duty, Excise duty on production/refining of Crude oil, Petrol (Motor Spirit), Diesel, Aviation Turbine Fuel and natural gas
Replaced with SGST
VAT
(Petroleum & Gas Excluded), Purchase tax(vehicle, boats, and animal), Advertisement tax(on hoarding, banners etc), Luxury tax(Hotels, Spas, Resorts),
Lottery/Betting/Gambling
, Entertainment Tax
Not replaced with SGST
Liquor(Production & Consumption),
Electricity
Duty,
Road
Tax
Org
National Anti-Profiteering Authority
Authority for Advance Ruling
for clarification from tax authority
Goods & Service Network
GST Tribunal
1) Type
Progressive
e.g. tax slab
Regressive
e.g. Indirect tax
Proportional
flat tax rate e.g ST/LT Capital Gain Tax