Taxes In India Research Articles

Estimation of Central Tax Buoyancy in India

In this study, an attempt is made to examine the Buoyancy of Central Taxes in India, using time series data for the period 2000 to 2016. This study used log linear regression model to estimate buoyancy of central tax revenue. The empirical results indicate that the tax revenue buoyancy is higher for direct taxes in India. The result also indicates that the buoyancy coefficients of direct taxes, indirect taxes and all taxes are greater than unity during the study period.

GOODS AND SERVICE TAX IN INDIA: A SWOT ANALYSIS

Goods and Service Tax (GST) is a Value Added Tax (VAT), which hypothetically to be put into effect from April 2010, but because of conflicting interest of stakeholders and various political controversies it has been passed in both Houses of Parliament on Aug. 3, 2016. It alone indirect tax which influence the whole economy directly. It is aspiring as iron out wrinkles of current indirect taxes and has a far-reaching impact on GDP. India is a centralized constitutional economy. GST is applicable on all States and Union territories, known as CGST (Central Goods & Services Tax) and SGST (State Goods & Services Tax). The ill effects of cascading can be mitigated after tie up the central and states taxes in solitary tax. The economy is expected to pave the way of common national market as it will provide benefits to consumer by reducing overall tax burden of goods, which is currently estimated at 25% to 30%. Thus, introduction of Goods and Service Tax (GST) is a gigantic tax transform in contemporary ancient times. 
 Ignorance of law is no excuse but is liable to panel provisions, hence why not start learning GST and avoid the cost of ignorance. We all need to know, whether GST is willingly or imposed. This paper describes a brief introduction of current indirect tax structure and GST in India. What are challenging factor in implementation and what can be the opportunities of GST in India.

GOODS AND SERVICE TAX IN INDIA: A SWOT ANALYSIS

GOODS AND SERVICE TAX IN INDIA: A SWOT ANALYSIS

A Study of Income Tax in India: Taxpayers Point of View

The Union Finance Minister of India Sri Arun Jaitely presented the Union Budget in Parliament in 2016. The fiscal policy encompasses the Direct and Indirect Taxes. The Finance bill approved by President of India will become Finance Act. The Taxpayers are the elite group. Their contribution to the Economic growth and development of Indian Economy is highly commendable and appreciable. The present paper proposes the study of Income tax in India from both theoretical and practical aspects. The Income Tax Act, 1961 came into effect from 1st of April, 1962 in India. Taxation comprises of Direct and Indirect Taxes in India. The Total (Direct and Indirect) Taxes in India have gone up to Rs 14.54 Lakh Crore during the year 2015–16 in contrast to 627 crores during the year 1950–51. The Income from Total Taxes has increased substantially by 2, 319.26 fold during the above study period. The contribution of total taxes is highly substantial in India. Direct tax to GDP ratio in India is at 5.47 percent in the year 2015–16 in contrast to 2.22 percent during the year 1950–51. The direct tax to GDP ratio has gone up substantially during the above study period. In the end there are few suggestions made to the Government in the interest of taxpayers.