Excise

Sources of Income of State Government

The constitution (73rd and 74th) Amendment Acts, 1992 and ARTICLE 280 (3) (c) have altered the erstwhile fiscal devolution system and framework between the states and local governments. Under the new fiscal devolution system every State Government is required to constitute, once in five years, a Finance Commission under articles 243 (I) and entrust it … Read more

Tax and Economic Reforms of Uttarakhand

  Economic Profile Uttarakhand is one of the fastest growing states of the India. The State’s economy grew at an annual Growth rate of over 10 percent during the last decade. In terms of economic growth, the state’s performance has been above the national Average from 2002-03 to 2010-11. The high growth led to rapid … Read more

concept of VAT

VAT is a multi-stage tax levied at each stage of the value addition chain, with a provision to allow input tax credit (ITC) on tax paid at an earlier stage, which can be appropriated against the VAT liability on subsequent sale. VAT is intended to tax every stage of sale where some value is added … Read more

Direct & Indirect Taxes

    Direct & Indirect Taxes   Direct Tax   Indirect Tax     Corporation Tax   Excise Duties     Income tax   Service Tax     Interest Tax   Central Value Added Tax (Vat)     Expenditure Tax   Sales Tax     Wealth tax   Property Tax     Gift Tax   … Read more

TAX REFORMS IN INDIA

Tax Reforms in India Sience 1990 ie the Chief Justice of India The Supreme Court of India is the highest court in India. It has: (a) One Chief Justice and 25 other judges (b) One Chief Justice and 30 other judges (c) One Chief Justice and 35 other judges (d) One Chief Justice and 40 … Read more

Proportional Taxation

The following are subtopics of Proportional TaxationTaxation: Definition of proportional Taxation History of proportional taxation Examples of proportional taxation Arguments for and against proportional taxation Effects of proportional taxation Alternatives to proportional taxation Proportional taxation is a system of taxation in which individuals are taxed at a constant rate, regardless of their income. This means … Read more

Tax Evasion

Here is a list of sub topics without any description for Tax Evasion: Abatement Adjustment Assessment Audit Collection Criminal Investigation Enforcement Examination Fraud Interest Penalties Refund Return Statute of Limitations Tax Avoidance Tax Evasion Tax Shelter Tax evasion is the illegal act of willfully failing to pay taxes. It is a crime that can result … Read more

Wealth tax

Wealth tax Here is a list of subtopics without any description for Wealth tax: History of wealth taxes Arguments for and against wealth taxes Economic effects of wealth taxes Implementation of wealth taxes Current wealth taxes Future of wealth taxes A wealth tax is a tax on the total value of an individual’s assets, including … Read more

Indirect Tax

Here is a list of sub topics without any description for Indirect Tax: Excise Duty Customs Duty Value Added Tax (VAT) Goods and Services Tax (GST) Sales Tax Octroi Entry Tax Luxury Tax Entertainment Tax Stamp Duty Land Revenue Profession Tax Local Body Taxes Other Indirect Taxes Indirect taxes are taxes that are levied on … Read more

Goods and Services Tax (GST)

Here is a list of subtopics without any description for Goods and Services Tax (GST): Introduction to GST What is GST? History of GST Objectives of GST Key features of GST GST rates GST exemptions GST registration GST returns GST payment GST compliance GST implications for businesses GST implications for consumers GST impact on the … Read more