Download or read book Sub national Value Added Tax in India written by Naseem A. Zaidi and published by . This book was released on 2008 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Value Added Tax Experiences of India and Other Countries written by Mahesh C. Purohit and published by . This book was released on 2007 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: About the Book : Value Added Tax (VAT) has emerged as one of the most important fiscal innovations of the present century. As many as 90 countries have switched over to VAT during the last decade and a half bringing the total number of VAT countries to more than 141. India has adopted a system of dual VAT: CenVAT at the federal level and State-VAT at the State level. Haryana was the first State to replace its sales tax by VAT on April 1, 2003. Majority of States (18 States) introduced VAT on April 1, 2005. Since then all other states have switched over to VAT leaving only Uttar Pradesh out of it. In this context, this book presents evolution of VAT, analyses its rationale and brings out the reasons for its popularity as a fiscal measure. In the Indian context, it presents up-to-date developments in introduction of VAT by the Union and by all the States. The coverage includes an in-depth analysis of the rates, base, exemptions, taxation of services and harmonization of tax rates. Due emphasis is given to organization for tax administration, operations of VAT in India and other countries and to the MIS for tax administration. Special emphasis is laid on Tax Information Exchange System (TINXSYS) of India for having information on dealers entering into inter-State trade. The book presents an extremely informative account of the management of VAT in France (especially of the forfeit system for small dealers). GST in Canada, and federal and state VAT in Brazil. In the light of the experiences of all the VAT countries, the study aims at drawing attention towards the key issues in implementation of VAT. About the Author : Dr. Mahesh C Purohit is Director of the Foundation for Public Economics and Policy Research. Earlier, he has worked as Member- Secretary of the Empowered Committee of State Finance Ministers to Monitor Sales Tax Reforms (1999-2001), Secretary to the Committee of State Finance Ministers (1998), Secretary to the Committee of Chief Ministers on VAT and Incentives to Backward Areas (1999), and Member-Secretary to the Committee of Finance Secretaries on Backward Area Incentives (1999). Dr. Purohit has been a Professor at the National Institute of Public Finance and Policy, New Delhi; a Senior Research Fellow at the Centre for Advanced Studies in Industrial Economics and Public Finance, University of Bombay and a Post- Doctoral Fellow at the Department of Economics, University of California, USA. He has been a visiting Professor at the Maison Des Sciences De L Homme, Paris: Institute of Fiscal and Monetary Policy, Tokyo and International Tax Programme, Harvard Law School, Cambridge, M.A. He has undertaken many International assignments that include Advisor in Tax Policy and Chief Technical Advisor, UNDP; member of a Fiscal Mission of IMF and rendered advice to the Royal Government of Bhutan in respect of reforms in their tax system.

Download or read book Value Added Tax in North East India written by and published by Mittal Publications. This book was released on 2009 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Papers presented at a seminar held at Itanagar during 15-16 February 2008.

Download or read book International VAT GST Guidelines written by Collectif and published by OECD. This book was released on 2017-04-12 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Value Added Tax (VAT; also known as Goods and Services Tax, under the acronym GST in a number of OECD countries) has become a major source of revenue for governments around the world. Some 165 countries operated a VAT at the time of the completion of the International VAT/GST Guidelines in 2016, more than twice as many as 25 years before. As VAT continued to spread across the world, international trade in goods and services has also expanded rapidly in an increasingly globalised economy. One consequence of these developments has been the greater interaction between VAT systems, along with growing risks of double taxation and unintended non-taxation in the absence of international VAT co-ordination. The International VAT/GST Guidelines now present a set of internationally agreed standards and recommended approaches to address the issues that arise from the uncoordinated application of national VAT systems in the context of international trade. They focus in particular on trade in services and intangibles, which poses increasingly important challenges for the design and operation of VAT systems worldwide. They notably include the recommended principles and mechanisms to address the challenges for the collection of VAT on cross-border sales of digital products that had been identified in the context of the OECD/G20 Project on Base and Erosion and Profit Shifting (the BEPS Project). These Guidelines were adopted as a Recommendation by the Council of the OECD in September 2016.

Download or read book Economics of Value Added Tax written by Mohan Prasad Shrivastava and published by APH Publishing. This book was released on 2004 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Timely Book Is Designed To Improve The Quality And Concept Of The Indian Tax System By Covering All The Relevant Issues.

Download or read book How to Manage Value Added Tax Refunds written by Mario Pessoa and published by International Monetary Fund. This book was released on 2021-05-10 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: The value-added tax (VAT) has the potential to generate significant government revenue. Despite its intrinsic self-enforcement capacity, many tax administrations find it challenging to refund excess input credits, which is critical to a well-functioning VAT system. Improperly functioning VAT refund practices can have profound implications for fiscal policy and management, including inaccurate deficit measurement, spending overruns, poor budget credibility, impaired treasury operations, and arrears accumulation.This note addresses the following issues: (1) What are VAT refunds and why should they be managed properly? (2) What practices should be put in place (in tax policy, tax administration, budget and treasury management, debt, and fiscal statistics) to help manage key aspects of VAT refunds? For a refund mechanism to be credible, the tax administration must ensure that it is equipped with the strategies, processes, and abilities needed to identify VAT refund fraud. It must also be prepared to act quickly to combat such fraud/schemes.

Download or read book Implementation of Value Added Tax in India written by and published by . This book was released on 2010 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Administering the Value Added Tax on Imported Digital Services and Low Value Imported Goods written by John Brondolo and published by International Monetary Fund. This book was released on 2021-05-21 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This technical note and manual (TNM) addresses the following questions: (1) What are the main challenges in administering the value-added tax on imported digital services and the measures that countries have introduced to address the challenges?; (2) What are the main challenges in administering the value-added tax on low-value imported goods and the measures that countries have introduced to address the challenges? ;and (3) What are the key tasks in implementing the measures for improving the administration of the value-added tax on imported digital services and low-value imported goods?

Download or read book Effects of Adopting a Value added Tax written by Jon Hakken and published by . This book was released on 1992 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: I. Introduction -- II. How a VAT works -- III. Base of a value-added tax -- IV. Who bears the burden of a VAT? -- V. Economic effects of a VAT -- VI. Costs of administering and complying with a VAT -- VII. Direct consumption tax as an alternative to a VAT.

Download or read book Goods and Services Tax in India written by R. Kavita Rao and published by Cambridge University Press. This book was released on 2019-05-23 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: Studies the evolution of GST in India since the Report of the Indirect Taxation Enquiry Committee of 1977.

Download or read book Value Added Tax written by Alan Schenk and published by Cambridge University Press. This book was released on 2007-01-22 with total page 570 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book integrates legal, economic, and administrative materials about value added tax. Its principal purpose is to provide comprehensive teaching tools - laws, cases, analytical exercises, and questions drawn from the experience of countries and organizations from all areas of the world. It also serves as a resource for tax practitioners and government officials that must grapple with issues under their VAT or their prospective VAT. The comparative presentation of this volume offers an analysis of policy issues relating to tax structure and tax base as well as insights into how cases arising out of VAT disputes have been resolved. The authors have expanded the coverage to include new VAT related developments in Europe, Asia, Africa and Australia. A chapter on financial services has been added as well as an analysis of significant new cases.

Download or read book Consumption Tax Trends 2020 VAT GST and Excise Rates Trends and Policy Issues written by OECD and published by OECD Publishing. This book was released on 2020-12-03 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumption Tax Trends provides information on Value Added Taxes/Goods and Services Taxes (VAT/GST) and excise duty rates in OECD member countries. It also contains information about international aspects of VAT/GST developments and the efficiency of this tax. It describes a range of other consumption taxation provisions on tobacco, alcoholic beverages, motor vehicles and aviation fuels.

Download or read book State value Added Tax in India written by Mahesh C. Purohit and published by . This book was released on 2005-01-01 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: About the Book : - Sales tax, which has come to occupy a very important place in the fiscal structure of all the states, has now been replaced by State-Value Added Tax (state-VAT). As is the case in most other countries, this is being done to remove the deficiencies in the existing sales tax. In the past, considerable efforts have, in this regard, been made by the Committees of state Finance Ministers of 1995 and 1998 as also by the Committee of Chief Ministers of 1999. In addition, the efforts of the Empowered Committee and the facilitation by the Union Government have enabled almost all the states to go in for state-VAT. Introduction of state-VAT by all the states is indeed a paradigm shift and an important step in tax reform at the sub-national level. It was, however, expected that such a move might cause some implications for the revenue of the states. Also, this being a multi-point sales tax with set-off, it could bring a large number of taxpayers into tax net. This might, therefore, raise issues of cost of compliance as also of corruption, if not implemented according to the principles of VAT. This study, therefore, is the first attempt to empirically examine the effects of introduction state-VAT to replace the existing sales tax in the states. For an indepth analysis it takes a case study of Rajasthan and recommends measures needed to improve governance from the point of tax department of all the states as also from the view of taxpayers. The study also recommends measures needed to improve the structure of VAT both in the short-run and in the medium run. Finally, the study recommends as a measure of second-generation reforms to have just one comprehensive State-VAT (by merger of CenVAT into state-VAT) and some restructuring of state taxes. About the Author: - Dr. Mahesh C. Purohit is Director of the Foundation for Public Economics and Policy Research. Earlier, he has worked as Member- Secretary of the Empowered Committee of State Finance Ministers to Monitor Sales Tax Reforms, Secretary to the Committee of State Finance Ministers (1998), Secretary to the Committee of Chief Ministers on VAT and Incentives to Backward Areas (1999), and Member-Secretary to the Committee of Finance Secretaries on Backward Area Incentives (1999). Dr. Purohit has been a Professor at the National Institute of Public Finance and Policy, New Delhi, a Senior Research Fellow at the Centre for Advanced Studies in Industrial Economics and Public Finance, University of Bombay and a Post- Doctoral Fellow at the Department of Economics, University of California, USA. He has been a visiting Professor at the Maison Des Sciences De L Homme, Paris; Institute of Fiscal and Monetary Policy, Tokyo; and International Tax Programme, Harvard Law School, Cambridge, M.A. As part of his work on commodity taxes, Prof. Purohit has visited many countries such as Belgium, Bhutan, Brazil, Canada, France, Korea, Japan, Singapore and United Kingdom for an in-depth understanding of the issues in VAT policy and management. He has undertaken many International assignments that include Advisor in Tax Policy and Chief Technical Advisor, UNDP; member of a Fiscal Mission of IMF; and rendered advice to the Royal Government of Bhutan in respect of reforms in their tax system. Prof. Purohit has authored about a dozen books and a large number of articles in Indian and International journals in the areas of public finance, industrial economics and environmental protection. His two important publications are: State-VAT in India and Sales Tax and Value Added Tax in India.

Download or read book The VAT Reader written by and published by . This book was released on 2011 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book VAT a Way Out of the Indian Tax Muddle written by G. K. Pillai and published by . This book was released on 2005 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: A WAY OUT OF THE INDIAN TAX MUDDLE PROBLEMS AND PROSPECTS OF ADOPTING VALUE ADDED TAX In this book Dr. Pillai presents the prominent features of VAT on a comprehensive canvas. He explains the positive impact of VAT on the national economies of several c

Download or read book Virtues and Fallacies of VAT written by Robert F. van Brederode and published by . This book was released on 2021-08-09 with total page 728 pages. Available in PDF, EPUB and Kindle. Book excerpt: Value-added tax (VAT) is a mainstay of revenue systems in more than 160 countries. Because consumption is a more stable revenue base than other tax bases, VAT is less distorting and hence more likely to encourage investment, savings, optimum labor supply decisions, and growth. VAT is not without criticism however, and faces its own specific technical and policy challenges. This book, the first to thoroughly evaluate VAT from a global policy perspective after over 50 years of experience with its intricacies, offers authoritative perspectives on VAT's full spectrum--from its signal successes to the subtle ways its application can undermine revenue performance and economic neutrality. The contributors--leading tax practitioners and academics--examine the key policy issues and topics that are crucially relevant for measuring the success of the tax in the first part of the book, including: revenue generation and revenue efficiency; single rate versus multiple rates; susceptibility to fraud; exemptions and exceptions; compliance cost for businesses; policy and compliance gaps in revenue collection; adjustment rules caused by the transactional nature of the tax; transfer pricing issues; treatment of vouchers; permanent establishments and holding companies; payment of refunds; cross-border digital transactions; and supplies for free or below cost price. The second part offers six country reports--on New Zealand, Japan, China, Colombia, Ethiopia, and India--to demonstrate the different ways in which VAT operates in a variety of national economies. Whether a government is contemplating the imposition of a general consumption tax for the first time or new rules for applying an existing one, it is important for policymakers to keep central the aim to design a tax that realizes optimal efficiency and causes minimal distortions. This invaluable book serves as an expert guide to VAT policy development in this area. It will be welcomed not only by concerned government officials but also by tax professionals (both lawyers and accountants) and academics in tax law.

Download or read book Evolution of Goods and Services Tax in India written by R. Kavita Rao and published by Cambridge University Press. This book was released on 2019-05-23 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Goods and Services Tax (GST) was implemented in India in July 2017, after four decades of protracted deliberations amid critical socio-economic and political challenges. GST is a comprehensive multistage value added tax (VAT) on goods and services where both central and state governments share the same tax base. Finding a suitable design for GST that encompasses taxes from both the centre and the state tax brackets makes the Indian GST unique among GST implemented in other federal countries. This book is a study of the evolution of GST in India since the Report of the Indirect Taxation Enquiry Committee of 1977. It studies the following issues on GST: a) inclusion and exclusion of taxes, b) finding a suitable mechanism to handle inter-state transactions, c) finding revenue neutrality of the tax reform, d) providing compensation to states for any possible loss of revenue due to its adoption, and e) possible scope for coordination in GST administration.