Notes and Study material for Exams
The Goods and Services Tax Council: A Catalyst for India’s Economic Transformation The Goods and Services Tax (GST) Council, established in 2016, stands as a testament to India’s commitment to a unified and streamlined taxation system. This apex body, comprising representatives from the central and state governments, plays a pivotal role in shaping the future … Read more
A Journey Through Time: Examining the Evolution of Administrative Reforms in India India, a nation with a rich history and a complex administrative structure, has witnessed numerous attempts at reforming its governance system. These efforts, often spearheaded by Administrative Reforms Commissions (ARCs), have aimed to address the challenges of efficiency, accountability, and responsiveness in public … Read more
The Power of Discretionary Grants: A Guide to Securing Funding for Your Project Discretionary grants are a powerful tool for organizations and individuals seeking funding for projects that align with specific goals and priorities. Unlike formula grants, which are awarded based on predetermined criteria and formulas, discretionary grants offer greater flexibility and the opportunity to … Read more
The Complex Landscape of State Taxes: Levied, Collected, and Retained The United States operates under a federal system, where power is shared between the national government and individual states. This division of power extends to the realm of taxation, with both levels of government levying taxes to fund their respective operations. While the federal government … Read more
Statutory Grants: A Comprehensive Guide to Government Funding Statutory grants are a vital source of funding for various organizations, including non-profits, local governments, and educational institutions. These grants are awarded based on specific legislation, ensuring a consistent and predictable flow of funds for designated purposes. This article delves into the intricacies of statutory grants, providing … Read more
The Complexities of Levy and Collection of Goods and Services Tax in Inter-State Trade or Commerce (Article 269-A) The Goods and Services Tax (GST) regime in India, introduced in 2017, aimed to create a unified national market by eliminating cascading taxes and streamlining the tax structure. However, the intricate nature of inter-state trade and commerce, … Read more
The Complex Dance of Fiscal Federalism: Understanding Article 270 and the Distribution of Taxes in India India’s federal structure, enshrined in its Constitution, necessitates a complex system of revenue sharing between the central government (Centre) and the state governments. This intricate dance of fiscal federalism is governed by Article 270 of the Constitution, which outlines … Read more
The Surcharge on Certain Taxes and Duties: A Deep Dive into Article 271 of the Income Tax Act The Indian Income Tax Act, 1961, is a complex and multifaceted piece of legislation designed to ensure a fair and equitable distribution of the tax burden. One of the key provisions within this Act is Article 271, … Read more
The Shifting Sands of Tax Revenue: A Global Perspective on Distribution and Trends The collection and distribution of tax revenue is a fundamental pillar of any modern economy. It fuels public services, infrastructure development, and social welfare programs, ultimately shaping the lives of citizens. Understanding the distribution of tax revenues across different sectors and regions … Read more
The Complex Dance of Federalism: Taxes Levied by the Centre, Collected and Appropriated by the States (Article 268) The Indian Constitution, a masterpiece of federalism, meticulously outlines the division of powers between the Centre and the States. This intricate balance extends to the realm of taxation, where both levels of government have the authority to … Read more