A direct cost refers to any expense that can be directly attributed to the production of specific goods or services. These costs are incurred in the manufacturing process and can be traced back to a specific product, project, or department.

The Commodity Transaction Tax (CTT) was introduced by the Government of India in the 2013 Budget to regulate and tax transactions in the commodities trading market. Its implementation aimed to enhance government revenues, foster transparency, and mitigate speculative activities in commodity trading.

Managing Business Expenses Maximizing Deductions and Minimizing Tax Liabilities