While the nitty-gritties of GST work are handled by the council, slippage in revenues are a result of poor design, which is why a road map for reforming the GST is needed.
It is puzzling that India’s political parties, which swear by the motto of poverty alleviation, have yet to properly implement any system of progressive personal income taxation. Thomas Piketty and Lucas Chancel, in their new paper ‘From British Raj to Billionaire Raj?’ have pointed out that the share of […]
Ease Of Doing Business and Paying Taxes: How To Jump a Hundred Positions On the World Bank’s Rankings
If India can bring down the total number of payments to 10 and the total hours to comply to 160, even without changing the total tax rate, the ‘paying taxes’ rank could jump by over a hundred positions to the 60s.
Globally, successful tax amnesties are the exception rather than the norm. We have yet to see whether IDS 2016 will have any lasting effect.
There has been no attempt so far to design a comprehensive tax policy for medium and small enterprises, which would take all direct and indirect taxes into account and provide a clear, low-compliance-cost, fair policy option.
In its current form, the GST will have a negligible positive impact on growth, may be negative for the business environment, and may not even be revenue neutral.
There are several incremental measures in this year’s budget, but no intention to undertake deep, structural reforms in tax policy or administration
Rather than give big business tax breaks, the FM and his new budget should simplify taxes for SMEs, enabling them to better contribute to growth.