Sub-national Value Added Tax in India PDF Download

Author: Naseem A. Zaidi
Publisher:
ISBN:
Category : Value-added tax
Languages : en
Pages : 262

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Author: Mr.Richard Miller Bird
Publisher: International Monetary Fund
ISBN: 1451858035
Category : Business & Economics
Languages : en
Pages : 55

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Book Description
The assignment of revenues in most developing and transitional countries to the central government has arguably facilitated irresponsible behavior by some subnational governments. One way to relieve this problem is to strengthen subnational tax regimes. The paper proposes two approaches to accomplish such strengthening in developing countries. The first—most applicable to large countries with important regional governments—is to establish subnational value-added taxes (VATs); the second is to replace the various unsatisfactory state and local taxes imposed on business by a low-rate value-added tax levied on the basis of income (production, origin) rather than consumption (destination).

Author: Mahesh C. Purohit
Publisher:
ISBN: 9788185930107
Category : Value-added tax
Languages : en
Pages : 162

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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Book : - Sales tax, which has come to occupy a very important place in the fiscal structure of all the states, has now been replaced by State-Value Added Tax (state-VAT).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.

Author:
Publisher:
ISBN: 9789264295490
Category :
Languages : en
Pages : 116

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Value Added Tax (VAT; also known as Goods and Services Tax, under the acronym GST in a number of OECD countries) has become a major source of revenue for governments around the world. Some 165 countries operated a VAT at the time of the completion of the International VAT/GST Guidelines in 2016, more than twice as many as 25 years before. As VAT continued to spread across the world, international trade in goods and services has also expanded rapidly in an increasingly globalised economy. One consequence of these developments has been the greater interaction between VAT systems, along with growing risks of double taxation and unintended non-taxation in the absence of international VAT co-ordination. The International VAT/GST Guidelines now present a set of internationally agreed standards and recommended approaches to address the issues that arise from the uncoordinated application of national VAT systems in the context of international trade. They focus in particular on trade in services and intangibles, which poses increasingly important challenges for the design and operation of VAT systems worldwide. They notably include the recommended principles and mechanisms to address the challenges for the collection of VAT on cross-border 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). These Guidelines were adopted as a Recommendation by the Council of the OECD in September 2016.

Author:
Publisher: Mittal Publications
ISBN: 9788183242974
Category : Value-added tax
Languages : en
Pages : 232

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Papers presented at a seminar held at Itanagar during 15-16 February 2008.

Author: R. Kavita Rao
Publisher: Cambridge University Press
ISBN: 1108473962
Category : Business & Economics
Languages : en
Pages : 217

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Book Description
Studies the evolution of GST in India since the Report of the Indirect Taxation Enquiry Committee of 1977.

Author: R. Kavita Rao
Publisher: Cambridge University Press
ISBN: 1108631746
Category : Law
Languages : en
Pages : 220

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Book Description
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.

Author: Mohan Prasad Shrivastava
Publisher: APH Publishing
ISBN: 9788176486613
Category : Value-added tax
Languages : en
Pages : 294

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This Timely Book Is Designed To Improve The Quality And Concept Of The Indian Tax System By Covering All The Relevant Issues.

Author: Kathryn James
Publisher: Cambridge University Press
ISBN: 110704412X
Category : Business & Economics
Languages : en
Pages : 495

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Book Description
Explores how the value-added tax (VAT) has risen from relative obscurity to become one of the world's most dominant revenue instruments.

Author: Mario Pessoa
Publisher: International Monetary Fund
ISBN: 1513577042
Category : Business & Economics
Languages : en
Pages : 29

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Book Description
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.