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 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 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 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 International VAT GST Guidelines written by OECD and published by Org. for Economic Cooperation & Development. This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper set forth internationally agreed principles and standards for the value added tax (VAT) treatment of the most common types of international transactions, with a particular focus on trade in services and intangibles. Its aim is to minimise inconsistencies in the application of VAT in a cross-border context with a view to reducing uncertainty and risks of double taxation and unintended non-taxation in international trade. It also includes the recommended principles and mechanisms to address the challenges for the collection of VAT on crossborder 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).
Download or read book Effects of Adopting a Value added Tax written by and published by . This book was released on 1992 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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.
Download or read book Reform of Domestic Trade Taxes in India written by and published by . This book was released on 1994 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Study of a possible system of Value Added Tax (VAT) for India.
Download or read book Impact of Value Added Tax on State Revenue of India written by Ritu Sharma and published by . This book was released on 2013 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Taxation System in Bharat India English written by Navneet Singh and published by Navneet Singh. This book was released on with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: India has a comprehensive taxation system that encompasses various taxes at both the central and state levels. Here's an overview: Central Taxes: Income Tax: Governed by the Income Tax Act, 1961, income tax is levied on the income of individuals, Hindu Undivided Families (HUFs), companies, and other entities. The tax rates vary based on the income slab and the type of taxpayer. Goods and Services Tax (GST): GST is a comprehensive indirect tax levied on the supply of goods and services throughout India. It replaced various indirect taxes such as service tax, VAT, central excise duty, etc., and is governed by the GST Act. Customs Duty: Customs duty is levied on the import and export of goods into and out of India. It is governed by the Customs Act, 1962. Excise Duty: Excise duty is a tax levied on the production or manufacture of goods in India. However, with the introduction of GST, most goods are now subject to GST rather than excise duty. Central Sales Tax: CST is levied on the sale of goods from one state to another in India. However, it has been subsumed under GST. State Taxes: Value Added Tax (VAT): VAT was a state-level tax levied on the sale of goods within a state. It has been replaced by GST. State Goods and Services Tax (SGST): SGST is a component of GST that is levied by the state government on intra-state supplies of goods and services. State Excise Duty: State excise duty is levied by state governments on the manufacture and sale of alcoholic beverages and certain other goods. Stamp Duty: Stamp duty is levied by state governments on various instruments such as property transactions, share transfers, and agreements. Local Taxes: Property Tax: Property tax is levied by local bodies such as municipal corporations or municipalities on the value of property owned by individuals or entities. Professional Tax: Professional tax is levied by state governments on the income earned by individuals engaged in professions such as lawyers, doctors, etc. Other Taxes: Capital Gains Tax: Capital gains tax is levied on the profit earned from the sale of capital assets such as real estate, stocks, and mutual funds. Securities Transaction Tax (STT): STT is levied on the purchase and sale of securities such as stocks and derivatives. India's taxation system is governed by various tax laws, rules, and regulations, and it undergoes periodic amendments to align with the changing economic and fiscal landscape. It's always recommended to consult with a tax professional or refer to the latest tax regulations for specific details and compliance requirements.
Download or read book Value Added Tax written by Associated Chambers of Commerce & Industry of India and published by . This book was released on 2005 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Working with VAT written by Kul Bhushan and published by Pearson Education India. This book was released on 2006 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 State Level Vat In India Issues Challenges And Experiences written by Sthanumoorthy R and published by . This book was released on 2005-10-22 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recently, the states in India carried out a path-breaking tax reform measure by way of replacing their much maligned sales tax system with a Value Added Tax (VAT) system. Despite its revenue significance, the previous sales tax system had been suffering f
Download or read book Roll Up Your Sleeves for GST written by Bhogavalli Mallikarjuna Gupta and published by Notion Press. This book was released on with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: "India has a complicated taxation system. This is made even more complex thanks to its federal system with each state having its own taxation rules and regulations. This makes it difficult for business houses and organizations, and very often, the complex tax structures end up having a negative impact on consumers as they end up paying more for goods and services. The proposed Goods and Services Tax or GST has been in the pipeline for quite some time. Finance Minister Arun Jaitley hopes to pass the bill by April 2016. The author takes us on a journey from the history of taxation in India, to its current practices and the future…if GST is implemented. You can learn about the intricacies, pros and cons of GST in this easy-to-read, pithy book."
