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About this product
- DescriptionThe existing tax system in India yields a low tax-GDP ratio as a major proportion of the population is dependent on agriculture which is practically untaxed. Similarly the service sector, which has the largest contribution in GDP, is also t fully taxed. Due to the structural reforms that were initiated in the nineties, the growth in revenue from indirect taxes has come down while the revenue from direct taxes has showed an accelerated growth. This study on the tax system in India evaluates the existing taxes that are being levied by both the Centre and the State Governments. It analyses tax structure in terms of rates, base, slabs, and exemptions, and its administration and operations to provide estimates of revenue's growth rate and buoyancy and tax effort. The authors t only provide detailed data on the existing structure and administration but also discuss the second generation reforms to address the issues that have emerged since the earlier reforms in 1991. More particularly they discuss the significant and important Direct Tax Code (DTC) and Goods and Services Tax (GST) that the Indian government is likely to introduce soon. They stress that these tax reforms will help India make further progress towards an open ecomy as well as ensure that Indian traders and manufacturers become more competitive and efficient in the international market.
- Author BiographyMahesh C Purohit is Director and President at Foundation for Public Economics and Policy Research, New Delhi. Vishnu Kanta Purohit is Associate Professor at Indraprastha College for Women, University of Delhi.
- Author(s)Mahesh C. Purohit,Vishnu Kanta Purohit
- PublisherOUP India
- Date of Publication11/09/2014
- SubjectEconomics: Professional & General
- Place of PublicationNew Delhi
- Country of PublicationIndia
- ImprintOUP India
- Content Note54 line drawings, 2 b/w halftones
- Weight744 g
- Width162 mm
- Height236 mm
- Spine27 mm
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