Call For Paper Volume:4 Issue:8 Aug'2017 |

RECENT TREND IN INDIAN TAXATION SYSTEM- “An overview of GST in rapid growth of Indian economy”

Publication Date : 22/02/2016



Author(s) :

Dr. Simran Kaur , Er.Gurpreet Singh , Dr.Pramod Gupta .


Volume/Issue :
Volume 3
,
Issue 2
(02 - 2016)



Abstract :

India has a well-developed tax structure with clearly demarcated authority between Central and State Governments and local bodies.Central Government levies taxes on income (except tax on agricultural income, which the State Governments can levy), customs duties, central excise and service tax.Value Added Tax (VAT), stamp duty, state excise, land revenue and profession tax are levied by the State Governments.Local bodies are empowered to levy tax on properties, octroi and for utilities like water supply, drainage etc.Indian taxation system has undergone tremendous reforms during the last decade. The tax rates have been rationalized and tax laws have been simplified resulting in better compliance, ease of tax payment and better enforcement. The process of rationalization of tax administration is ongoing in India.


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RECENT TREND IN INDIAN TAXATION SYSTEM- “An overview of GST in rapid growth of Indian economy”

February 12, 2016