Which of the following is an Indirect Tax in India?

The correct answer is Goods and Services Tax.

To understand why Goods and Services Tax (GST) is an indirect tax, we must first distinguish between direct and indirect taxes:
1. Direct Taxes: These are taxes levied directly on an individual's or entity's income, wealth, or profits. The liability to pay the tax and the actual economic burden of the tax fall on the same person or entity. They cannot be passed on or shifted to someone else. Examples include Income Tax, Corporation Tax, and Capital Gains Tax.
2. Indirect Taxes: These are taxes levied on goods and services rather than on income or profits. The tax is collected by an intermediary (like a manufacturer, retailer, or service provider) from the person who bears the ultimate economic burden of the tax (the final consumer). In other words, the tax burden can be shifted to another person.

Let's analyze the options provided:
- Income Tax: Paid directly by individuals on their personal earnings to the government. It is a direct tax.
- Corporation Tax: Paid directly by companies and businesses on their corporate profits. It is a direct tax.
- Capital Gains Tax: Paid on the profits realized from the sale of non-inventory assets like stocks, bonds, or real estate. It is a direct tax.
- Goods and Services Tax (GST): Introduced in India in 2017 to replace multiple cascading indirect taxes (such as VAT, Excise Duty, Service Tax, etc.). GST is charged on the supply of goods and services at each stage of the supply chain, and the consumer pays it indirectly when buying the product or service. Therefore, it is an indirect tax.