Tax expenditure refers to the revenue forgone by the government due to exemptions and concessions provided in both direct and indirect taxes.
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The inverted duty structure refers to a situation where the import duty on finished goods is lower than the duty on raw materials or intermediate goods.
Capital Gains Tax is a tax imposed on the profits (gains) derived from the sale of assets such as land, shares, etc
The Direct Taxes Code (DTC) represents a significant overhaul of India’s tax system, aiming to simplify and streamline the country’s direct tax regime
Tax amnesty schemes in India, also known as voluntary disclosure or amnesty schemes, have been periodically introduced by the government
In India, the concept of broadening tax base has emerged as a critical strategy for bolstering fiscal sustainability and promoting economic development.
The tax-to-GDP ratio serves as a critical indicator of a nation’s fiscal health, reflecting the extent to which a government relies on taxation to fund its expenditures relative to the size of its economy.
Direct and indirect taxes constitute the two main categories of taxes in India, each with its distinctive characteristics and impact on taxpayers
Tax reforms in India have long been a focal point of economic policy discussions, aimed at enhancing efficiency, equity, and simplicity in the taxation system.
The taxation system in India is a complex framework that plays a crucial role in the country’s economic development and fiscal management.