Tax Reforms in India

TAX REFORMS IN INDIA * About :- Tax reform is the function of changing the way measurees argon put ined or managed by the government. Tax reformers have different goals. around seek to shrivel up the level of valuateation of all people by the government. Some seek to make the tax administration to a greater extent forward-looking or less progressive. Others seek to simplify the tax system and make the system more understandable, or more accountable . Numerous organizations have been set up to reform tax systems worldwide, often with the intent to reform in gain taxes or value added taxes into something considered more economically liberal. Others propose tax systems that attempt to deal with externalities. Georgism claims that mingled forms of land tax can both deal with externalities and better productivity.

* Taxation in India:- India has a three-tier tax structure, wherein the constitution empowers the total government to levy income tax, tax on capital minutes (wealth tax, inheritance tax), sales tax, service tax , customs and fall upon duties and the extract governments to levy sales tax on intrastate sale of goods, tax on entertainment and professions, excise duties on manufacture of alcohol, stamp duties on transfer of prop and collect land revenue (levy on land owned). The local governments are empowered by the state government to levy property tax and charge users for public utilities like water supply, sewage etc. More than half of the revenues of the union and state governments come from taxes, of which 3/4th come from direct taxes. More than a quarter of the union governments tax revenues Is shared with the state governments. The tax reforms initiated in 1991, have sought to rationalise the tax structure and increase compliance by... If you want to get a full essay, order it on our website: Orderessay

Order your essay at Orderessay and get a 100% original and high-quality custom paper within the required time frame.