![Tax system reform in India: Achievements and challenges ahead [An article from: Journal of Asian Economics]](https://www.ebooknetworking.net/books/B00/0RR/bigB000RR6OV0.jpg)
Tax system reform in India: Achievements and challenges ahead [An article from: Journal of Asian Economics]
In Stock
Book Details
Author(s)Rao, M.G.
PublisherElsevier
ISBN / ASINB000RR6OV0
ISBN-13978B000RR6OV4
AvailabilityIn Stock
MarketplaceUnited States 🇺🇸
Description
This digital document is a journal article from Journal of Asian Economics, published by Elsevier in . The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.
Description:
Indian tax system has come a long way from the narrow based, complicated and confiscatory to the one that is far more efficient. Over the years, the thrust and direction of reforms have been to improve revenue productivity while minimising distortions. The reform to convert the state level sales tax into VAT this year is a major initiative. The recent focus on tax administration promises rich dividends. Despite reforms since 1991, much remains to be done to make the tax system broad-based, productive and efficient. In corporate tax, excise, customs and sales taxes, revenue concentration on diesel and petrol has high efficiency costs. The personal income tax continues to be narrow based. Reform in the sales tax has only just begun and a lot remain to be done to evolve destination-based retail VAT. The reforms in tax administration promise increased revenues and, hopefully, that will provide the elbow room necessary for calibrating future reforms.
Description:
Indian tax system has come a long way from the narrow based, complicated and confiscatory to the one that is far more efficient. Over the years, the thrust and direction of reforms have been to improve revenue productivity while minimising distortions. The reform to convert the state level sales tax into VAT this year is a major initiative. The recent focus on tax administration promises rich dividends. Despite reforms since 1991, much remains to be done to make the tax system broad-based, productive and efficient. In corporate tax, excise, customs and sales taxes, revenue concentration on diesel and petrol has high efficiency costs. The personal income tax continues to be narrow based. Reform in the sales tax has only just begun and a lot remain to be done to evolve destination-based retail VAT. The reforms in tax administration promise increased revenues and, hopefully, that will provide the elbow room necessary for calibrating future reforms.
