Tax Reforms in India

Indirect Tax Reforms in India

November 23, 2015

First Indirect Tax Reform occurred in India when the Modified Value Added Tax (MODVAT) was introduced for selected commodities in 1986 to replace the Central Excise Duty. It was gradually extended to all commodities through Central Value Added Tax (CENVAT). The states also followed the suit and...

Recent Direct Tax Reforms in India

November 23, 2015

Information Technology has made the life of tax payers easy as they don’t need physically go to banks to deposit bank challans and present the case and documents to assessing officers. To make further simple, the CBDT recently came up with a proposal paperless income tax assessment...

Contribution of Raja Chelliah to Indian Public Finance

November 23, 2015

Raja Chelliah played a major role in reforming Indian economic policies. He was the main architect of the tax reforms programme when the economic reforms were implemented in 1991. He is often referred to as “The Father of Tax Reforms”.  After working as Chief of the Fiscal...

Raja Chelliah Tax Reforms Committee

November 23, 2015

Prior to the liberalization of Economy, India’s tax regime was marred with numerous problems. In terms of direct taxes, there was a high degree of progressiveness in 1960s and 1970s that led to adverse effect on tax collection efficiency. Further, there were large number of exemptions eroded...