Reforming indirect taxes in India

role of environmental taxes
  • 43 Pages
  • 0.69 MB
  • 4567 Downloads
  • English
by
Madras School of Economics , Chennai
StatementD.K. Srivastava and C. Bhujanga Rao
The Physical Object
Pagination43 p.
ID Numbers
Open LibraryOL24919448M
LC Control Number2011323674

Indirect Tax Reform in India: to GST and Beyond maps these developments in detail and analyses the political economy behind it.

It also deals with the current problems, the conceptual infirmities and the reforms needed urgently to restrict the disruption it has caused in the economy so far. This book outlines the impact of the past /5(4).

Indirect Tax Reform in India: to GST and Beyond maps these developments in detail and analyses the political economy behind it. It also deals with the current problems, the conceptual infirmities and the reforms needed urgently to restrict the disruption it has caused in the economy so far.

This book outlines the impact of the past. The need for reform in indirect taxes was felt soon after Independence, and several committees were appointed for this purpose. From there, the process of reforms of indirect taxes in India went through ups and downs till the introduction of the Goods and Services Tax (GST) in Brand: SAGE Publications.

From there, the process of reforms of indirect taxes in India went through ups and downs till the introduction of the Goods and Services Tax (GST) in Indirect Tax Reform in India: to GST and Beyond maps these developments in detail and analyses the political economy behind it. Indirect taxes have played an increasingly important role in the Indian economy.

Indirect tax was first introduced in India in in the form of excise duty on Indian products as a measure of protection for goods imported from the UK.

In the course Reforming indirect taxes in India book time, it became a well-established tax to shore up government finances. The need for reform in indirect taxes was felt soon after Independence. From there, the process of reforms of indirect taxes in India went through ups and downs till the introduction of the Goods and Services Tax (GST) in Indirect Tax Reform in India: to.

Keywords: Direct Taxes, Indirect Taxes, Tax Structure of India, Taxation, Tax Collection Introduction: After Independence in 1India h as developed into open Market Economy. Sincethere has been a concentrated effort to reform the cobweb of taxes across the Indian economy that acted as a constraint on our growth.

These problems were present, not just in indirect. After India got independence infunds was a major problem for the government.

The whole network of governing officers required their salaries for which funds were required. Reforms in the indirect taxation system of India dates back before independence.

Introduction of VAT (Value Added Tax) at central level and state level is considered to be one of the major steps towards indirect tax reform in India. Introduction of GST in India is considered to be one of the major reforms in Indian taxation system.

Indirect Tax Reform in India: To GST and Beyond - Ebook written by Yashwant Sinha, Vinay K. Srivastava. Read this book using Google Play Books app on your PC, android, iOS devices. Download for offline reading, highlight, bookmark or take notes while you read Indirect Tax Reform in India: To GST and Beyond.

On the other hand, tax reform is fundamental equipment in strategy development aiming at holistic growth of the society. Thus, the importance of an efficient tax system and reforms in tax system cannot be undermined.

There are two types of taxes levied in India, i.e., Direct tax, which is levied directly on income, profession, etc. Get this from a library. Indirect tax reform in India: to GST and beyond.

[Yashwant Sinha; Vinay K Srivastava] -- The book will examines India's indirect tax structure and various reforms that have taken place since and makes valuable recommendations. On ApIndia’s income tax department released tax statistics after a gap of almost 16 years. Tillthe tax department used to publish All India Income Tax Statistics but the publication was discontinued for some unknown explanations were given by the authorities for the discontinuation of this publication despite numerous demands made for its release by Indian.

Description Reforming indirect taxes in India PDF

Centre government levies indirect taxes such as service tax, central excise duty, CENVAT and custom duty etc. State VAT, central sales tax (CST) and entry tax etc.

are some state indirect taxes. Traditionally Indirect taxes specially excise and custom duty had a big share in Indian tax revenue until reforms of were implemented.

Indirect Tax Reform in India: to GST and Beyond maps these developments in detail and analyses the political economy behind it.

It also deals with the current problems, the conceptual infirmities and the reforms needed urgently to restrict the disruption it has caused in the economy so far.

This book outlines the impact of the past Format: Broché. Indirect Tax Books, Online Indirect Tax Books, Buy Indirect Tax Books, at very best price in India on Shop Professional and Technical Books at Meripustak.

Taxation In today’s world taxation, whether it is domestic or International it has taken a paradigm shift. GST is a huge reform for indirect taxation in India, the likes of which the country e-book comprehensive and helpful in understanding GST.

GST in INDIA - A Comprehensive Guide Book indirect taxes, GST will be collected at the point of consumption.

The taxing authority with appropriate. First Indirect Tax Reform occurred in India when the Modified Value Added Tax (MODVAT) was introduced for selected commodities in to replace the Central Excise Duty.

GK, General Studies, Optional notes for UPSC, IAS, Banking, Civil Services. In terms of Indirect taxes, the high rates of custom / excise duties were prevalent. There was no VAT; there was no service sector within the purview of tax. The efforts to reform India’s tax system began in mid s when the government announced a Long Term Fiscal Policy, This policy recognized that the fiscal position of the country.

The need for reform in indirect taxes was felt soon after Independence, and several committees were appointed for this purpose. From there, the process of reforms of indirect taxes in India went through ups and downs till the introduction of the Goods and Services Tax (GST) in India’s biggest indirect tax reform in decades.

With the Centre and States in India finally reaching a consensus on the details of the Goods and Services Tax (GST), India is set to roll out one of its largest indirect tax reforms. When introduced in AprilThe Goods and Service Tax (GST) Bill will be a value added tax (VAT).

Given the narrow tax base, the tax policy relied more on indirect taxes. The first comprehensive attempt at reforming the tax system was by the Taxation Enquiry Commission (TEC) (Chairman: John Matthai).

The Commission reviewed the structure of taxes on income and carried out an. and indirect taxes, their revenue and equity implications and the successes achieved in their implementation.

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The paper concludes that after eight years of reform improving the tax system remains a major challenge in India. There have been major changes in tax systems of countries with a wide. GST: 5 reasons why India’s largest indirect tax reform is eventually good for small businesses.

April 8, PM. GST and Taxation for MSMEs: While not everything went according to. GST has brought in a structural change in the indirect tax system in India. Continuous improvements in the structure, IT, administration and review. Free Book Preview Tax and in India and subsume all other prevailing indirect taxes in India like the Central Excise Tax, Value-Added Tax, and Service Tax amongst others.

tax reform. Booktopia has Indirect Tax Reform in India, To GST and Beyond by Yashwant Sinha. Buy a discounted Hardcover of Indirect Tax Reform in India online from Australia's leading online bookstore.

Custom Duty is an indirect tax levied on import or export of goods in and out of country. When goods are imported from outside, the tax known as import custom duty.

Details Reforming indirect taxes in India EPUB

when goods are exported outside India, the tax is known as export custom duty. The tax collected by Central Board of Indirect Taxes and Customs. In Februaryas part of India's. History Formation. The reform of India's indirect tax regime was started in by Vishwanath Pratap Singh, Finance Minister in Rajiv Gandhi’s government, with the introduction of the Modified Value Added Tax (MODVAT).

Subsequently, Prime Minister P V Narasimha Rao and his Finance Minister Manmohan Singh, initiated early discussions on a Value Added Tax (VAT) at the state level. While the proposed Goods and Services Tax (GST) is usual to widen the base of indirect taxes, complete administrative and legal reforms are required to control huge avoidance of direct taxes in India.

Perhaps the time has come for reforming the direct tax reforms. Kavaljit Singh, (), Reforming the Direct Tax Reforms in India.Downloadable! The replacement of the Central excise duty of the government of India by Central Value Added Tax (CENVAT) and sales tax system of the State governments by the VAT marked a major mile stone in the reform process of indirect taxes in India.

It addressed the cascading effect under the erstwhile system by giving set-off for tax paid on inputs as well as tax paid on previous purchases.

The latest Impetus to direct tax reforms in India came with the recommendations of the Task Force on Direct & Indirect Taxes under the chairmanship of Vijay Kelkar in The main recommendations of this task force related to the direct taxes related to increasing the income tax exemption limit, rationalization of exemptions, abolition of.