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Author: R. Kavita Rao
Publisher: Cambridge University Press
ISBN: 1108473962
Category : Business & Economics
Languages : en
Pages : 217
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Book Description
Studies the evolution of GST in India since the Report of the Indirect Taxation Enquiry Committee of 1977.
Author: R. Kavita Rao
Publisher: Cambridge University Press
ISBN: 1108473962
Category : Business & Economics
Languages : en
Pages : 217
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Book Description
Studies the evolution of GST in India since the Report of the Indirect Taxation Enquiry Committee of 1977.
Author: R. Kavita Rao
Publisher: Cambridge University Press
ISBN: 1108631746
Category : Law
Languages : en
Pages : 220
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Book Description
Goods and Services Tax (GST) was implemented in India in July 2017, after four decades of protracted deliberations amid critical socio-economic and political challenges. GST is a comprehensive multistage value added tax (VAT) on goods and services where both central and state governments share the same tax base. Finding a suitable design for GST that encompasses taxes from both the centre and the state tax brackets makes the Indian GST unique among GST implemented in other federal countries. This book is a study of the evolution of GST in India since the Report of the Indirect Taxation Enquiry Committee of 1977. It studies the following issues on GST: a) inclusion and exclusion of taxes, b) finding a suitable mechanism to handle inter-state transactions, c) finding revenue neutrality of the tax reform, d) providing compensation to states for any possible loss of revenue due to its adoption, and e) possible scope for coordination in GST administration.
Author: Parthasarathi Shome
Publisher: Springer Nature
ISBN: 3030682145
Category : Business & Economics
Languages : en
Pages : 507
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Book Description
Tax practitioners are unfamiliar with tax theory. Tax economists remain unfamiliar with tax law and tax administration. Most textbooks relate mainly to the US, UK or European experiences. Students in emerging economies remain unfamiliar with their own taxation history. This textbook fills those gaps. It covers the concept of taxes in regards to their rationale, principles, design, and common errors. It addresses distortions in consumer choices and production decisions caused by tax and redressals. The main principles of taxation—efficiency, equity, stabilization, revenue productivity, administrative feasibility, international neutrality—are presented and discussed. The efficiency principle requires the minimisation of distortions in the market caused by tax. Equity in taxation is another principle that is maintained through progressivity in the tax structure. Similarly, other principles have their own ramifications that are also addressed. A country’s constitutional specification of tax assignment to different levels of government—central, state, municipal—are elaborated. The UK is more centralised than the US and India. India has amended its constitution to introduce a goods and services tax (GST) covering both central and state governments. Drafting of tax law is crucial for clarity and this aspect is addressed. Furthermore, the author illustrates different types of taxes such as individual income tax, corporate income tax, wealth tax, retail sales/value added/goods and services tax, selective excises, property tax, minimum taxes such as the minimum alternate tax (MAT), cash-flow tax, financial transactions tax, fringe benefits tax, customs duties and export taxes, environment tax and global carbon tax, and user charges. An emerging concern regarding the inadequacy of international taxation of multinational corporations is covered in some detail. Structural aspects of tax administration are given particular attention.
Author: B. Viswanathan
Publisher:
ISBN: 9788177084290
Category : Value-added tax
Languages : en
Pages : 0
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Book Description
Restructuring of the tax system has constituted a major component of fiscal reforms in India since 1991. The main focus of the tax reforms has been on simplification and rationalization of both direct and indirect taxes, with the objective of augmenting revenues and removing anomalies in the tax structure. Tax reforms in recent years have brought the tax system much closer to international tax practices. The current structure of taxes on goods and services in India is highly complex, riddled with exemptions, and characterized by complicated compliance procedures. The strategy of the Government in respect of indirect taxes is to continue the tariff reforms process towards mean Asian levels of customs tariff, convergence towards a single rate of excise duty (with some exceptions), widening of service tax base, and a phased move towards a fully-integrated goods and services tax (GST). This book traces the evolution of taxation of goods and services (indirect taxes) in India during the post-Independence period. More importantly, it analyzes the present structure of indirect taxes and the harmonization measures undertaken by the Government in this regard. It also examines and sets forth core issues pertaining to the proposed national level GST which is expected to be rolled out in the near future. [Subject: India Studies, Economics, Taxation, Public Finance, Public Policy, Business]
Author: Yashwant Sinha
Publisher: Sage Publications Pvt. Limited
ISBN: 9789353289744
Category : Business & Economics
Languages : en
Pages : 336
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Book Description
The book will examines India's indirect tax structure and various reforms that have taken place since 1947 and makes valuable recommendations.
Author: M. M. Sury
Publisher:
ISBN: 9788177084573
Category : Value-added tax
Languages : en
Pages : 0
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Book Description
The recently introduced Goods and Services Tax (GST) is the biggest tax reform in the fiscal history of India. After missing several deadlines and overcoming almost a decade of political differences, the GST finally saw the light of day on July 1, 2017. Implementation of the GST leaves behind an inefficient, complicated and fragmented indirect tax system. The GST has subsumed a profusion of Central and State indirect taxes to create a single unified market. It is slated to make India a seamless national market, boosting trade and industry and, in turn, growth rate. The GST is expected to represent a leap forward in creating a much cleaner dual VAT. Common base and common rates will facilitate administration and improve compliance while also rendering manageable the collection of taxes on inter-State sales. By amalgamating a large number of Central and State taxes into a single tax and allowing set-off of prior-stage taxes, it would mitigate the ill effects of cascading or pyramiding and pave the way for a common national market. The ntroduction of the GST would also make India's products competitive in the domestic and international markets. This book explains various aspects of the GST in non-technical language for the benefit of a cross-section of readers, including teachers and students of economics, commerce, law, public administration, business management, legislators, business executives, and others interested in understanding the basics of the GST. [Subject: Business & Economics, India Studies, Taxation, Law, Public Policy]
Author: OECD
Publisher: OECD Publishing
ISBN: 926434411X
Category :
Languages : en
Pages : 88
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Book Description
This report provides practical guidance to tax authorities on the design and implementation of a variety of solutions for digital platforms, including e-commerce marketplaces, in the effective and efficient collection of VAT/GST on the digital trade of goods, services and intangibles. In particular, it includes new measures to make digital platforms liable for the VAT/GST on sales made by online traders through these platforms, along with other measures including data sharing and enhanced co-operation between tax authorities and digital platforms.
Author: Organisation for Economic Co-operation and Development
Publisher: OECD
ISBN:
Category : Business & Economics
Languages : en
Pages : 84
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Book Description
General consumption taxes now account for nearly 20% of tax revenues of OECD countries. Only USA and Australia of OECD countries do not have a general consumption tax.
Author: OECD
Publisher: OECD Publishing
ISBN: 926446591X
Category :
Languages : en
Pages : 220
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Book Description
Consumption Tax Trends provides information on Value Added Taxes/Goods and Services Taxes (VAT/GST) and excise duty rates in OECD member countries. It also contains information about international aspects of VAT/GST developments and the efficiency of this tax. It describes a range of other consumption taxation provisions on tobacco, alcoholic beverages, motor vehicles and aviation fuels.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264264051
Category :
Languages : en
Pages : 194
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Book Description
This report provides information on Value Added Tax/Goods and Services Tax (VAT/GST) and excise duty rates in OECD member countries.
