Name: Indirect Tax Reform In India: 1947 to GST And Beyond
Brand: Atlantic Publishers & Distributors (P) Ltd
SKU: 9788126911103
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Indirect Tax Reform In India: 1947 to GST And Beyond

by Yashwant Sinha , Vinay K. Srivastava

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ISBN13: 9788126911103
Binding: Hardcover
Subject: Business Management
Publisher: Atlantic Publishers & Distributors (P) Ltd
Publisher Imprint: Atlantic
Publication Date: December 26, 2024
Pages: 308
Original Price: INR 1295.0
Language: English
Edition: N/A
Item Weight: 500 grams
BISAC Subject(s): N/A

About The Book

Indirect taxes, first introduced in India in 1944, were used in the form of excise duty on Indian products as a protective measure for goods imported from the UK and later to shore up government finances. Post-independence, there was a pressing need for tax reform. Although several committees were appointed for this purpose, they had little to no effect on reality. Indirect tax reforms have faced several odds till the Goods and Services Tax (GST) was introduced by the GOI in 2017, replacing all existing taxes. Indirect Tax Reform in India: 1947 to GST and Beyond maps these developments, details and policy gaps, suggesting potential solutions to restrict financial and economic disruption. It outlines the impact of past measures and present changes while charting a roadmap towards a prosperous future.

About The Author

Yashwant Sinha, a distinguished veteran politician, is widely recognized for his pivotal role in spearheading major economic reforms in India. He served as the country's Finance Minister and Minister of External Affairs. With a master's degree in Political Science earned in 1958, he also chaired the Parliamentary Standing Committee on Finance, New Delhi, from 2009 to 2014. His acclaimed works include Confessions of a Swadeshi Reformer: My Years as Finance Minister (2007), The Future of Indian Economy: Past Reforms and Challenges Ahead (2017), India Unmade: How the Modi Government Broke the Economy (2018) and Relentless: An Autobiography (2019).

Vinay K. Srivastava, an accomplished scholar, began his academic journey at the Department of Commerce, CMP Degree College, Allahabad, and later earned his doctorate in Finance from the University of Allahabad. Currently an Associate Professor at the Institute of Technology and Science, Ghaziabad, he has previously served as the Dean of the School of Management at Raffles University, Neemrana, and the Dean of Academics (Management) at Raj Kumar Goel Institute of Technology (RKGIT), Ghaziabad. A prolific author and prominent columnist with over 200 publications to his credit, he is also the Founder and Managing Editor of ARASH, Saaransh and Raffles Business Review. His notable works include Privatisation of Public Enterprises in India (2007), Public Enterprises and Changing Scenario (2014), The Future of Indian Economy: Past Reforms and Challenges Ahead (2017) and Business Organization and Management (2023).

Table of Contents

Contents
List of Illustrations…v
List of Abbreviations…. x
Preface…xi
Acknowledgements…x
Introduction: Historical Background of Indirect Taxes in India… 1
Section A. Indirect Tax Reforms after Independence
Chapter 1 Tax Reform Committees over the Decades… 23
Chapter 2 Modified Value Added Tax: 1986 to 2000…41
Chapter 3 Central Value Added Tax: 2000 to 2017… 49
Chapter 4 Service Tax and Related Issues… 58
Chapter 5 State VAT (State Value Added Tax): 2002 to 2017… 68
Chapter 6 Setting Up of the Empowered Committee of State Finance Ministers and Its Role… 79
Section B. The New Regime of Goods and Services Tax
Chapter 7 Background of Goods and Services Tax…85
Chapter 8 The Constitution Amendment Bills… 99
Chapter 9 The Constitution Amendment Acts and Legislations… 110
Chapter 10 Administration of GST… 125
Chapter 11 The Structure of the New Tax System…132
iv Indirect Tax Reform in India
Chapter 12 Evaluation of GST after Two-and-a-Half Years… 143
Chapter 13 GST Revenue, Settlement of IGST and Compensation to the States…161
Chapter 14 Return Filing in the GST Era…187
Chapter 15 Impact and Experience of the New Tax around the Country…197
Policy Review and the Way Forward... 216
Appendix A: Indirect Tax Reforms in India: A Chronology… 225
Appendix B: The Constitution (Amendment) Bill of UPA Government and NDA Government… 230
Appendix C: Parliamentary Standing Committee Report on GST…247
Appendix D: Select Committee Report on GST…258
Appendix E: VAT, GST and Sales Tax Rates in the World…263
Bibliography…278
Index…287
About the Authors…293

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Indirect Tax Reform In India: 1947 to GST And Beyond

Section A. Indirect Tax Reforms after Independence

Section B. The New Regime of Goods and Services Tax

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