An indirect tax is a tax that is imposed on a transaction and one that is generally passed on by the supplier of the relevant goods or services to its customer or consumer. Around the world, governments look to raise revenue through ‘indirect taxes’, such as value-added tax (VAT), goods and services tax (GST), and sales and local taxes, with additional taxes imposed on imports via customs and excise duties. The compliance requirements of these taxes can be highly complex and will significantly impact a business’s cash flow. However, in India, most of the indirect tax statutes has been subsumed in Goods and Service Tax w.e.f. July 01, 2017.