Assessing Taxation Revenue and Perceptions of Tax Reforms in Post-Demonetization India

Abstract

This research paper endeavors to provide a comprehensive analysis of taxation revenue in India, specifically focusing on Income Tax and Goods and Services Tax (GST), during the post-demonetization era. Additionally, it seeks to explore the perceptions of three key stakeholder groups taxpayers, tax professionals, and government officials—regarding tax reforms and their influence on tax evasion in India. The study commences by evaluating the taxation revenue of the Government of India in the aftermath of the historic 2016 demonetization move. It scrutinizes the impact of tax reforms such as the introduction of GST and changes in Income Tax regulations on revenue generation. By employing empirical data and statistical analysis, this research aims to shed light on the effectiveness of these reforms in enhancing government revenue collection, promoting fiscal transparency, and curbing tax evasion. Furthermore, this paper delves into the perceptions of taxpayers, tax professionals, and government officials concerning tax reforms and their implications for tax evasion in India. Through surveys, interviews, and qualitative analysis, it investigates the diverse viewpoints held by these stakeholders. This qualitative dimension of the study provides a nuanced understanding of how tax reforms are perceived and whether they have altered the behavior of taxpayers and the enforcement strategies of government officials.
 The outcomes of this research hold significance for both policy formulation and academic discourse. Insights derived from the analysis of taxation revenue can guide policymakers in refining tax policies, optimizing revenue collection, and fostering economic growth. Simultaneously, an exploration of perceptions surrounding tax reforms offers valuable insights into the behavioral dynamics of taxpayers, the challenges faced by tax professionals, and the strategies employed by government officials in enforcing tax regulations. this paper Demonstrate a holistic examination of taxation revenue in post-demonetization India, with a specific focus on Income Tax and GST. It also provides a unique perspective by investigating the perceptions of taxpayers, tax professionals, and government officials regarding tax reforms and their impact on tax evasion. By combining empirical data with qualitative insights, this research contributes to a more comprehensive understanding of the complex relationship between taxation revenue, tax reforms, and stakeholder perceptions in the Indian context.