GST - Sway On Small Scale Industries

2019 ◽  
Vol 118 (10) ◽  
pp. 365-372
Author(s):  
Jayanti.G ◽  
Dr. V.Selvam
Keyword(s):  
State Government ◽  
Tax Reform ◽  
Small Scale ◽  
Tax Revenue ◽  
Tax System ◽  
Goods And Services ◽  
Single Tax ◽  
The People ◽  
Indirect Taxes ◽  
The Government

India being a democratic and republic country, has witnessed the biggest indirect tax reform after much exploration, GST bill roll out on 1 April 2017.  The concept of this reform is for a unified country-wide tax reform system.  Enterprises particularly SMEs are caught in a state of instability.  Several taxes such s excise, service tax etc., have been subsumed with a single tax structure. it is the responsibilities of both centre and state government to shoulder the important responsibility to cater the needs of the people and the nation as a whole.  The main basis of income to the government is through levy of taxes.  To meet the so called socio-economic needs and economic growth, taxes are considered as a main source of revenue for the government.  As per Wikipedia “A tax is a mandatory financial charge or some other type of levy imposed upon tax payer by the government in order to fund various public expenditure”   it is said that tax payment is mandatory, failure to pay such taxes will be punishable under the law.   The Indian tax system is classified as direct and indirect tax.   The indirect taxes are levied on purchase, sale, and manufacture of goods and provision of service.  The indirect tax on goods and services increases its price, this can lead to inflationary trend.  Contribution of indirect taxes to total tax revenue is more than 50% in India, therefore, indirect tax is considered as a major source of tax revenue for the government, which in turn is one of source for GDP growth.  Though indirect tax is a major source of revenue, it had lot of hassles.  To overcome the major issues of indirect tax system the government of India subsumed most of the indirect tax which in turn gave birth to the concept called Goods and Service Tax.

Tax Expenditures and the Tax Reform Act of 1969 in the United States

2022 ◽  
pp. 1-26
Author(s):  
Seiichiro Mozumi
Keyword(s):  
United States ◽  
Income Tax ◽  
Public Perception ◽  
Tax Reform ◽  
The United States ◽  
Tax Revenue ◽  
Tax System ◽  
Federal Income Tax ◽  
Federal Taxation ◽  
The Government

Abstract In the United States, tax favoritism—an approach that has weakened the extractive capacity of the federal government by providing tax loopholes and preferences for taxpayers—has remained since the 1930s. It has consumed the amount of tax revenue the government can spend and therefore weakened the possibility of the redistribution of fiscal resources. It has also made the federal tax system complicated and inequitable, resulting in undermining taxpayer consent. Therefore, since the 1930s, a tax reform to create a simple, fair, and equitable federal income tax system with the capacity to raise revenue has been long overdue. Many scholars have evaluated the Tax Reform Act of 1969 (TRA69), which Richard M. Nixon signed into law on December 30, 1969, as one of the most successful steps toward accomplishing this goal. This article demonstrates that TRA69 left tax favoritism in the United States. Furthermore, it points out that TRA69 turned taxpayers against the idea of federal taxation, a shift in public perception that greatly impacted tax reform in the years to follow.

scholarly journals Value Added Tax in Nepal: An Empirical Assessment

2010 ◽  
Vol 27 (1-2) ◽  
pp. 131-142
Author(s):  
R. K. Shah
Keyword(s):  
Tax Reform ◽  
Developing Economies ◽  
Value Added ◽  
Tax Base ◽  
Tax System ◽  
Reform Agenda ◽  
Sales Taxes ◽  
The People ◽  
The Government ◽  
Tax Payers

In developing economies, resource gap is critical and widening resulting tohuge fiscal and budgetary deficits. Therefore, revenue mobilization is challenging proposition in an economy like Nepal where majority of the people live in abject poverty. Tax administration lacks innovative mechanism to identify new tax payers and bring them into tax-net. Tax reform agenda was the reform package and program of the government after the restoration of multiparty democracy system. In Nepal, VAT was introduced in 1997 to improve revenue mobilization through broadening the tax base and modernizing the tax system. In this process, the government had to face new problems that came along with the adoption of VAT. Thus, the purpose of this study is to analyze the structure and responsiveness of VAT in Nepal empirically and compare it with that of old system of sales taxes. The old system of sales taxes refers to the combined sales, entertainment, contracts, hotels, and air flight taxes received by the government before 1997/98.

scholarly journals GST: A Tax Reform for Sustainability of Indian Handicrafts

2019 ◽  
Vol 7 (1) ◽  
pp. 354-359
Author(s):  
Kritika Tekwani ◽  
Rinku Raghuvanshi
Keyword(s):  
Sustainable Development ◽  
Tax Reform ◽  
Value Added ◽  
Secondary Data ◽  
Published Data ◽  
Tax System ◽  
The Sustainable Development ◽  
Goods And Services ◽  
The Government

Purpose of the study: Taxation is one of a tool, which helps the Government for the achievement of the goal of sustainable development for every sector including handicraft. The objectives of this study are to know about Goods and Services Tax & its inferences on sustainable development of Indian handicrafts and to identify the role of GST as tax reform in the sustainable development of handicrafts sector in India. The Indian handicraft is economically important and it has more potential for exports. This sector places a major role in the Indian economy. Methodology:  The Descriptive method of research has been used to gather information about the existing conditions of GST and Handicraft sector of India. This study is based on secondary data. The data has been taken from different journals, books, magazines, websites, and published data from government institutions. This study is explanatory in nature. The collected data from different sources has been reviewed and data relevant to the handicraft sector further analyzed. The researcher concluded that how GST is helping Indian handicraft sector for sustainable development. Main Findings: GST brought transparency in the tax system and it also eliminated the multiple taxes, which ultimately increases the final prices. This study revealed that GST would make Indian handicrafts more competitive in the domestic and foreign markets. GST is fiscal tax reform which helps in the sustainable development of Indian handicrafts. This research study found that the handicraft sector of India became more organized, centralized, and regulated after the implementation of Goods and Services Tax. The implication of the study: GST implemented on July 01, 2017 with the aim of simplification of the tax system, fiscal structure, United Indian Market, and sustainable development in India. It is a comprehensive value-added tax which merged different taxes including VAT, service tax, surcharges, CST, etc. This study can be useful for future researchers, traders, and exporters to know the implication of GST in the handicraft sector. Traders and exporters can get knowledge about the GST, tax rates, and exports under LUT/ bond. This study may be benefited to the Government for further development in GST as per the findings of this study. Novelty/Originality of this study: GST is new tax reform in India, only a few studies have been done on it. As per the researcher ’ s best knowledge few studies have been carried out on GST and handicraft sector, but none of the study is carried out on this topic. This study highlights the unrevealed facts and figures about the role of GST in the sustainable development of the handicraft sector.

Pajak Daerah dan Restribusi Daerah (PDRD) Dikaitkan dengan Pertumbuhan Investasi

2020 ◽  
Vol 2 (2) ◽  
pp. 154
Author(s):  
Fernando Hariandja
Keyword(s):  
State Government ◽  
Central Government ◽  
Tax Revenue ◽  
Tax Rates ◽  
Fiscal Autonomy ◽  
Regional Authority ◽  
The People ◽  
Direct Compensation ◽  
The Government ◽  
Investment Growth

Tax has a very important role in the life of the country, especially in the implementation of development. Tax revenue is the payment of contributions by the people to the government that are regulated in the law without direct compensation. As is the case with central government taxes, Regional Taxes have an important role in implementing state/government functions, both in the functions of regulation, budgeting, redistributive, and allocation of resources and a combination of the four. A good local tax in principle must provide adequate income for regions with the level of fiscal autonomy they have. Some regions do accommodate the function of revenue and regulation in the formulation of Regional Tax policies. The step that has not been widely considered by the regions is the provision of Regional Tax incentives to attract investment in the regions. In the current era of regional autonomy, regions are given greater authority to regulate and manage their own households. The aim is to bring government services closer to the community. Anyway, President Joko Widodo often complained about the small value of investment coming into Indonesia, one of which is caused by the irrationality of the Regional Tax rates in the eyes of investors. This paper analyzes what policies the government has taken towards PDRD, which are considered to have many of these problems to increase investment growth in Indonesia. To overcome this, the government has made several efforts, one of which is to establish the Omnibus Law. However, the formation of the Omnibus Law itself actually unwittingly has the potential to erode the regional authority to look for sources of locally-generated revenue (PAD). If PAD is reduced, automatically the level of regional dependence on funds from the central government will be even greater, and if PAD is low, then the level of local government public service to the community is also feared to be reduced.

scholarly journals Impact of Goods and Service Tax (GST) on Business and Tax Reforms in India

2017 ◽  
Vol 4 (1) ◽  
pp. 15-22
Author(s):  
Lavisha Verma
Keyword(s):  
Tax Reform ◽  
Research Paper ◽  
State Governments ◽  
Tax Reforms ◽  
Tax System ◽  
Dual Structure ◽  
High Compliance ◽  
Goods And Services ◽  
Finance Minister ◽  
Indirect Taxes

Goods and Services Tax (GST) comes under Indirect Tax regime covers whole of  India replaced  various indirect taxes levied by the Central and state governments. The GST is governed by GST Council and its Chairman is Union Finance Minister of India “GST is not a tax reform in true sense, but it is a major business reform which will change the way business activities are carried in the country. The dual structure of GST is the fundamental character of our country and therefore a single GST across the country is not possible in true sense under GST ,the taxpayer will be ease the burden  of taxpayers to deal with multiple indirect taxes as under present Indirect system but GST will cost high compliance burden on the taxpayers requiring a registration in every state from where taxable activities are carried out  but it would definitely reduced cumbersome documentation and save time. This research Paper discuss about the biggest step taken in indirect tax system that is GST and challenges in implementation. The paper aims to show that GST is a merely a Business reform, not a uniform tax system.

scholarly journals GST : A NEW ERA OF INDIRECT TAXES

2017 ◽  
pp. 199-211
Author(s):  
Hitendra Vyas
Keyword(s):  
State Government ◽  
Service Industry ◽  
Financial Service ◽  
New Era ◽  
Excise Duty ◽  
Goods And Services ◽  
Financial Service Industry ◽  
Unfavourable Effect ◽  
Indirect Taxes ◽  
The Government

There are distinguishing indirect taxes functional on services and goods by the Government of India and state government of India. Goods & Services Tax is planned to incorporate all these taxes into one tax with consistent ITC and charged on both goods and services. Accordingly excise duty, special additional duty, service tax, VAT to give some examples will get cancelled and will be included into GST. For this, Goods & Services Tax will have 3 sections – CGST (Central Goods & Services Tax), SGST (State Goods & Services Tax), and IGST (Integrated Goods and Services Tax). The focal duties like extract obligation will be subsumed into CGST and state charges like VAT into SGST. Financial service industry, specifically financial institutions like Banks and NBFCs are the backbone of any economy. They are the drivers of the economy and contribute roughly 6% of the roundabout charges. Accordingly they are a huge player and an unfavourable effect on the segment impacts the economy. Further, Banks presently work just in the service area and are secured by Service Tax @ 12.36% right now. Going ahead with GST (Goods & Services Tax), they should pay approx. 27% GST. This paper examined information gathered from inquires about articles and data for worldwide practices for comparative issues and information gathered through meeting and poll from individuals in the field. In view of this investigation, the paper goes ahead to propose changes or necessities that GST should address from a financial service industry perspective

scholarly journals Analysis of Elasticity and Buoyancy and Projection of Tax in Nepal

2018 ◽  
Vol 32 (1) ◽  
pp. 105-116
Author(s):  
Dil Nath Dangal
Keyword(s):  
Gross Domestic Product ◽  
Secondary Data ◽  
Domestic Product ◽  
Fiscal Year ◽  
Tax Revenue ◽  
Tax System ◽  
Indirect Taxes ◽  
The Government ◽  
Year 2000

This study has been designed to calculate elasticity and buoyancy and projection of various taxes in Nepal from 2018 to 2020. This study is based on secondary data published by the government of Nepal covering a period between the fiscal year 2000 to 2016. The various sources of revenue as a proportion of the Gross Domestic Product (GDP) have been analyzed during this period. This study particularly deals with the analysis of elasticity and buoyancy of tax and nontax revenue. The projection of tax revenue since 2018 to 2020 has also been forecasted. The findings reveals that the overall tax system of Nepal seemed to be inelastic during study period, and direct taxes appeared smaller elasticity’s than indirect taxes and those buoyancy coefficients of major taxes became much higher than their respective elasticities.

A Study on Consumers’ Awareness on Goods and Services Tax

2018 ◽  
Vol 6 (11) ◽  
pp. 30
Author(s):  
A. Hilary Joseph ◽  
D. Kanakavalli
Keyword(s):  
Tax Reform ◽  
Subsequent Stage ◽  
State Governments ◽  
Value Addition ◽  
Goods And Services ◽  
Late Night ◽  
Single Tax ◽  
Doing Business ◽  
Ease Of Doing Business ◽  
The One

The Goods and Services Tax (GST) -- India's biggest tax reform since independence formally launched in Parliament by Prime Minister Narendra Modi and President Pranab Mukherjee came into force after 17 tumultuous years of debate, unifying more than a dozen central and state levies.  The new tax regime was ushered at the late night of 30th June and came into force on 1st July 2017.  The one national GST unifies the country's USD 2 trillion economy and 1.3 billion people into a common market.  As commented by Mr.Modi, GST is not just tax reform but its economic reform. GST is a way forward in the ease of doing business.  In the language of law, it is called the goods and services tax, but the benefit of GST is really a Good and Simple Tax. Good because multiple taxes will be removed. Simple because it requires just one form and is easy to use.  GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer.  Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. The final consumer will thus bear only the GST charged by the last dealer in the supply chain, with set-off benefits at all the previous stages.  It renders numerous benefits to different parties such as business and industry, central and state governments and the ultimate consumers.  An effort is made to understand the consumers’ awareness on Goods and Services Tax. Everything that is introduced will attract agitation and unrest among different group of people and they can easily be overcome by designing programmes to clarify the objections of renowned economists.  GST will sure to have success when the confidence of every individual Indian citizens have obtained.

Preferences, Tax Structure and Tax Reform: Theory and Evidence

1975 ◽  
Vol 3 (1) ◽  
pp. 56-69 ◽  
Author(s):  
Shlomo Maital
Keyword(s):  
Tax Reform ◽  
Tax Structure ◽  
Indirect Taxation ◽  
Tax System ◽  
The Past ◽  
Pure Public Good ◽  
Indirect Taxes ◽  
Current Shift ◽  
Optimal Tax Structure ◽  
The U.S

When the structure of tax revenues–the proportion of revenues earned by income, consumption and wealth taxes–is treated as a pure public good, a useful framework emerges for analyzing interrelationships among taxpayers' preferences, tax structure and tax reform. The “optimal” tax structure is defined and used to outline several conjectures about the current shift from direct to indirect taxation, evident particularly in Europe. Attention is then focused on the U.S. tax system. The structure of the tax system is shown to have changed very little in the past two decades. In contrast, interview surveys carried out over the past thirty years indicated a long-standing shift in taxpayers' preferences toward indirect taxes. Implications are drawn regarding tax reform.

scholarly journals Dominasi dan ketidakadilan negara dan korporasi dalam kasus bencana lumpur Lapindo

2017 ◽  
Vol 30 (2) ◽  
pp. 150
Author(s):  
Oman Sukmana
Keyword(s):  
Resource Management ◽  
State Government ◽  
Oil And Gas ◽  
The State ◽  
Group Discussions ◽  
Disaster Victims ◽  
The People ◽  
Data Collection Process ◽  
The Government

The domination of the state (government) and Corporate (PT LBI) in the oil and gas resource management lead Lapindo mudflow disaster that caused misery to the people. This study aims to assess the forms of domination and injustice by the state (government) and the corporation in the case of Lapindo mudflow disaster, and how Lapindo mudflow disaster victims negotiate (resist) against the state (government) and corporations in an effort to fight for their rights. This study used a qualitative approach with case study. Subjects and informantsresearch include: (1) Lapindo mudflow disaster victims; (2) group coordinator of Lapindo mudflow disaster victims; (3) Public figures Siring village, Tanggulangin, Renokenongo, Jabon, and Jatirejo, Porong district, Sidoarjo; (4) Representation of the corporation (PT. LBI); and (5) Representation of BPLS. The data collection process using the in-deepth interviews, observation, focus group discussions, and review documents. Stage processing and data analysis includes the coding process, memoing, and concept mapping. The results showed that the government (the state) and the corporation (PT LBI) action dominating the oil and gas resource management in the area of Porong district, Sidoarjo regency, East Java, resulting misery for the victims (people). Forms of injustice felt by residents Lapindo mudflow disaster victims not only related to the issue of compensation for land and building assets alone, but more than that, including various dimensions. Through a variety of collective action, such as demonstrations and negotiations, Lapindo mudflow disaster victims filed various charges, such as demands for payment of compensation for land and building assets destroyed.

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