MODVAT was introduced in 1987 without unifying rates, leading to confusion and loss of revenue
Although the approach paper for the 12th Five-Year Plan was published in October 2011 and the Plan has actually commenced from April 2012, the plan document is expected only later in the year. The Indian economy has seen a sharp deceleration since ...
This book is an important contribution to the literature on tax administration not merely because it contains a lot of Shastra, but it also has a considerable amount of Purana in it. Admittedly, the literature on tax administration is scarce, and ...
Given the new policy challenges, the Budget will have a difficult time restoring people's confidence in the economy
Postponing structural reforms will make them even more difficult to implement
States should focus on long-term productivity and revenue gains, not short-term losses
Indian policy makers will have to evolve an exit strategy that maintains high growth with price stability
It's important to make the penalty system an effective deterrent to ensure greater efficiency in the tax system
Setting up an SPV for the IT platform is important, but the 3-rate GST structure is a bad idea
Besides making the reforms acceptable, it will make politically difficult changes feasible
Stipulating a corner solution has led the states to adopt a defiant posture
The revenue foregone due to tax incentives in 2009-10 is estimated at Rs 5,40,269 crore
Legislation on fiscal discipline will not help unless government is ready to bite the bullet
If you’re looking at tax reforms, the GST will be a big step, but don’t forget bigger reforms like the Tax Information Network and implementing VAT.
The fiscal consolidation process had to be initiated without completely withdrawing the stimulus