scholarly journals Importance of goods and services tax in india

2017 ◽  
Vol 7 (2) ◽  
pp. 338-341
Author(s):  
MOHAN PRAKASH R.S
Keyword(s):  
The State ◽  
Tax Structure ◽  
Cascading Effect ◽  
Goods And Services ◽  
Doing Business ◽  
Indirect Taxes ◽  
Last Stage ◽  
The Difference ◽  
The Cost

The multi-staged tax structure has charges from the State and Union governments separately,leading to cascading effect of taxes. There are taxes at different rates and at multiple points.The GST is an indirect tax which means that the tax is passed on till the last stage wherein itis the customer of the goods and services who bears the tax. This is the case even today for allindirect taxes but the difference under the GST is that with streamlining of the multiple taxesthe final cost to the customer will come out to be lower on the elimination of double chargingin the system. GST is a transparent Tax and also reduces the number of indirect taxes. WithGST implemented a business premises can show the tax applied in the sales invoice.Customer will know exactly how much tax they are paying on the product they bought orservices they consumed. GST will not be a cost to registered retailers therefore there will beno hidden taxes and the cost of doing business will be lower. This in turn will help businessbeing more competitive. The consumer will get the end-product at cheaper rates because ofelimination of multiple taxes and the tax cascade. An attempt is made to spot light theimportance of Goods and Services Tax in India.

scholarly journals Structural Transformation, the Mismeasurement of Productivity Growth, and the Cost Disease of Services

2014 ◽  
Vol 104 (11) ◽  
pp. 3635-3667 ◽  
Author(s):  
Alwyn Young
Keyword(s):  
Productivity Growth ◽  
Developed Economies ◽  
Goods And Services ◽  
Employment Share ◽  
Alternative Characterization ◽  
The Difference ◽  
The Cost ◽  
Relative Productivity ◽  
Absolute Advantage

If workers self-select into industries based upon their relative productivity in different tasks, and comparative advantage is aligned with absolute advantage, then the average efficacy of a sector's workforce will be negatively correlated with its employment share. This might explain the difference in the reported productivity growth of contracting goods and expanding services. Instrumenting with defense expenditures, I find the elasticity of worker efficacy with respect to employment shares is substantially negative, albeit estimated imprecisely. The estimates suggest that the view that goods and services have similar productivity growth rates is a plausible alternative characterization of growth in developed economies. (JEL E23, E24, H56, J24, O41, O47)

scholarly journals Petrol Price: Pre & Post Goods and Services Tax (GST) in India

2019 ◽  
Vol 8 (4S3) ◽  
pp. 389-391
Keyword(s):  
The State ◽  
Tax Rate ◽  
Goods And Services ◽  
Petrol Price ◽  
Indirect Taxes

Goods and services tax is an all-inclusive tax levied on manufacturing, sales and consumptions of goods and services within a country, introduced by the Indian President on 1st July 2017, which subsumed all indirect taxes levied by both Governments(the central and the state). However petrol was kept out of GST framework in order to preserve the revenue acquired by the state. the present study gives you the answers for the questions like what is GST?, What is the reason for not implementing GST on petrol? What will be the price of one liter petrol when the same is subsumed in GST? This paper highlights the comparison between the present tax rate on petrol and the rate at which petrol would cost when it is subsumed by the GST.

scholarly journals LABOR COSTS AND COST OF LABOR: CONCEPTS, TRENDS, INDICATORS

2018 ◽  
Vol 2018 (1) ◽  
pp. 3-15
Author(s):  
Gennadii KULIKOV ◽  
Keyword(s):  
Labor Force ◽  
Labor Cost ◽  
Structural Elements ◽  
Labor Costs ◽  
Real Cost ◽  
Additional Information ◽  
Goods And Services ◽  
Production Value ◽  
The Difference ◽  
The Cost

Concepts of “labor costs” and “cost of labor” have been refined. Differences between the concepts of “labor costs” and “total cost of labor”, “price of labor” and “wages”, “compensation” and “wages”, “labor costs” and “staff costs” are shown. The concept of “labor costs not belonging to the wage fund” is specified. Significance of these costs as a workforce reproduction factor in the system of social and labor relations is considered. Trends in labor costs and their structural elements in Ukraine and abroad are revealed and their comparative analysis is carried out. The difference between the “production value of labor force” (that is, “real cost of labor for producer”) and the “real consumer value of labor force” (that is, “real cost of labor for employee” as a consumer of goods and services) is justified. Differences in cost of labor indicators in Ukraine and the EU countries are shown and proposals to use new indicators are suggested. Recommendations on development of the system of accounting for the cost of labor in terms of its flexibility, efficiency and reliability are elaborated, in particular, concerning the quarterly accounting of cost of labor indices, hourly wages and labor cost levels. Purposes of using the statistical information on employer’s expenses for maintaining the workforce are determined. Indicators of the costs of maintaining the workforce were estimated by users of this information. The need of enterprises for additional information is justified.

scholarly journals Basic concepts and features of good and service tax in india

2018 ◽  
Vol 8 (2) ◽  
pp. 205-210 ◽  
Author(s):  
Priyadharshini J ◽  
Selladurai M
Keyword(s):  
Basic Structure ◽  
State Governments ◽  
Tax Structure ◽  
Goods And Services ◽  
Ignorance Of Law ◽  
Basic Concepts ◽  
The Cost ◽  
The Impact ◽  
Historical Scenario ◽  
Structure And Design

This paper is an analysis of what the impact of Goods and Services Tax will be on Indian Tax Scenario. Here stated with a brief description of the historical scenario of Indian taxation and its tax structure. Then the need arose for the change in tax structure from traditional to GST model. GST has be detailed discuss in this paper as the background, silent features and the impact of GST in the present tax scenario in India. GST is the only indirect tax that directly affects all sectors and sections of our economy. Ignorance of law is no excuse but is liable to panel provisions, hence why not start learning GST and avoid the cost of ignorance. The GST is aimed at creating a single, unified market that will benefit both corporate and the economy. Several countries implemented this tax system followed by France, the first country introduced GST. India is a centralized democratic and therefore the GST will be implemented parallel by the central and state governments as CGST and SGST respectively. The objective will be to maintain a commonality between the basic structure and design of the CGST and SG

Media Capture and Bias in the Market for News

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Abhra Roy
Keyword(s):  
Media Bias ◽  
The State ◽  
Actual State ◽  
Noisy Signal ◽  
Free Press ◽  
State Of The Economy ◽  
The Media ◽  
The Difference ◽  
The Government ◽  
The Cost

Abstract We analyze a model of media bias under government capture and a free press. The government wants citizens to invest in a project. Citizens gain from investing only if the state of the economy is good. The state is unobserved. The media firm receives a noisy signal about the actual state and makes a report about whether or not the state of the economy is good. Citizens read the report and decide whether or not to invest. In this context, we show that media bias under government capture may be smaller (greater) than that under free press if the cost of investment is sufficiently high (low) provided that the signal noise is below a certain threshold. Finally, we show that the difference between the bias under government capture and free press diverges (converges) when the cost of investment is sufficiently high (low) in response to a reduction in noise.

scholarly journals Pros and cons of indian goods and services tax in economic

2017 ◽  
Vol 7 (2) ◽  
pp. 356-361
Author(s):  
Nithya S
Keyword(s):  
Tax Structure ◽  
Tax Base ◽  
Goods And Services ◽  
Indirect Taxes ◽  
History Of ◽  
Pros And Cons

The Goods and Service Tax Bill passed recently by the RajyaSabha and the LokSabhahas been getting a lot of attention lately. Mainly because it is ‗The Next Big Thing‘ after theFinancial Reforms of 1991 in the history of India‘s economy. We all know that themultiplicities of indirect taxes have driven up the prices of goods and services. Moreover,they make taxation complicated. Further, these taxes are different in each state and businessesend up paying tax on taxes.So basically, GST rationalizes this whole bucket of indirect taxesand attempts to unify most of them to make for a destination base tax, thereby making India aunified market. It is estimated that the GDP of the country will rise by 1 – 2 %. Let‘s have alook at the GST impact on business in the country.Consumers are expected to benefit fromreduced prices of goods and services, which in turn increase consumption. Improved demandand simplified tax structure will help attract increased FDIs and FIIs and boost overalleconomic growth. At the same time state and Central governments are likely to benefit from abroader tax base.

scholarly journals Recent impact of gst in india

2017 ◽  
Vol 7 (2) ◽  
pp. 288-293
Author(s):  
Gomathi N
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Central Government ◽  
National Level ◽  
Tax Structure ◽  
Tax Reforms ◽  
Tax System ◽  
Goods And Services ◽  
National Market ◽  
Indirect Taxes

GST also known as the Goods and Services Tax is defined as the giant indirect taxstructures designed to support and enhance the economic growth of a country. In today‘sscenario to pay various taxes i.e. direct and indirect taxes, which are felt as burden on us anddue to these taxes the corruption is increasing. So, to overcome from all these taxation systemthe Central Government has decided to make one tax system i.e. Goods and Services Tax(GST). GST is one of the most critical tax reforms in India which has been long awaitingdecision. It is a comprehensive tax system that will subsume all indirect taxes of State andcentral Governments and whole economy into seamless nation in national market. It isexpected to remove the burden of existing indirect tax system and play an important role ingrowth of India. GST includes all Indirect Taxes which will help in growth of economy andproves to be more beneficial than the existing tax system. GST will also help to accelerate theoverall Gross Domestic Product (GDP) of the country. The Goods and Services Tax (GST) isa vast concept that simplifies the giant tax structure by supporting and enhancing theeconomic growth of a country. GST is a comprehensive tax levy on manufacturing, sale andconsumption of goods and services at a national level

scholarly journals Nepalese Tax Structure: An Analytical Perspective

2018 ◽  
Vol 7 (1) ◽  
pp. 15-26
Author(s):  
Madhav Khanal
Keyword(s):  
Tax Evasion ◽  
Secondary Data ◽  
Tax Structure ◽  
Tax System ◽  
Doing Business ◽  
Indirect Taxes ◽  
Analytical Perspective ◽  
Ease Of Doing Business ◽  
The Government ◽  
The One

Tax is the major source of revenue for the government, and development of any country’s economy largely depends on the tax structure it has adopted. A Tax structure which facilitates easy business and leaves no chance for tax evasion brings prosperity to a country’s economy. On the other hand, tax structure that has provisions for tax evasion and the one which does not facilitate ease of doing business shows down the economic growth. Nepal has a well-developed tax structure. The power to levy taxes and duties is distributed among the three tiers of the Government, in accordance to the constitutional provisions. Nepali tax system has gone through many reforms but still it is very far from being an ideal one. Many problems like tax evasion, reliance on indirect taxes, black money and existence of parallel economy show that Nepali tax system requires some major reforms in the future ahead to address all this problem. This study is purely based on secondary data. Various figures are obtained from different sources of the government of Nepal. It is seen that there is major dependence on indirect taxes than the direct taxes.

scholarly journals Tax System in India-Evolution and Present Structure

2015 ◽  
Vol 2 (1) ◽  
Author(s):  
Ms. Neha Nainwal
Keyword(s):  
Tax Evasion ◽  
Structural Changes ◽  
Tax Structure ◽  
Tax Reforms ◽  
Public Authorities ◽  
Tax System ◽  
Direct Taxation ◽  
Excise Duty ◽  
Goods And Services ◽  
Indirect Taxes

<bold>Main findings of the book</bold> The Indian tax system has undergone major structural changes since Independence in 1947. It has become comprehensive and complicated over the years. It has successfully mobilised resources to finance developmental, welfare and administrative activities of public authorities. Besides being the main source of revenue, both for the Central and State Governments, it is an effective instrument to realise various socio-economic objectives of national policies. However, the tax system has been relying heavily on indirect taxes and suffering extensively from fiscal malady called tax evasion. Restructuring of the tax system has constituted a major component of fiscal reforms initiated since 1991. The main focus of the tax reforms has been on simplification and rationalization of both direct and indirect taxes with the objective of augmenting revenues and removing anomalies in the tax structure. Tax reforms in recent years have brought the tax system much closer to international tax practices. Tax reforms are a part of the package to liberalise and globalise the Indian economy. The post-1991 period has witnessed a sharp decline in the rates of income tax, excise duty and customs tariff. The theory that high rates of duty lead to higher revenue collection has been discarded in favour of lower rates with fewer exemptions and concessions. The strategy in respect of direct taxation is to minimise distortions in tax structure by expanding the tax base and moderating tax rates on the one hand and improving the efficiency of tax administration and increasing the deterrence level on the other, so as to encourage voluntary compliance. The strategy in respect of indirect taxes is to move towards a fully integrated goods and services tax (GST).

Russia’s image in the modern world: ratings, risks, ways to improve

2021 ◽  
pp. 761-771
Author(s):  
Natalya Jurievna Rodigina ◽  
Ofeliia Andranikovna Azarova ◽  
Oxana Eduardovna Kirtoake
Keyword(s):  
The State ◽  
Modern World ◽  
Economic Relations ◽  
Goods And Services ◽  
Positive Image ◽  
Doing Business ◽  
Global Innovation ◽  
The Creation ◽  
The Government ◽  
The Stability

Today every state is interested in creating and maintaining a positive image of the country because it serves as a means of achieving success. The image of the state determines its international heft, impact in various spheres. A positive image of the country will promote cooperation with various countries, the development of trade and economic relations with them, while a negative image of the country can be used by the opposition to criticize the government and its policies. There are a large number of different factors that have a direct impact on the creation of the image of the state: natural factors; the availability of resources; the culture of the country; the political system; the stability of the economy; scientific achievements; exports of goods and services; etc. The article outlines the stages of the creation of the image of Russia, as well as the directions that are most actively involved in it. The article analyzes the position of Russia in such international ratings as the Doing Business, the IMD World Competitiveness Ranking, the Global Innovation Index ranking and the Human Development Index ranking. The article also outlines the principles on which all stages of creating and promoting a country’s image should be based. Special attention is paid to the ways to improve the image of Russia in the world.

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