2023, Vol. 4, Issue 2, Part A
Indian tax structure: An analytical study
Author(s): Sudhir Kumar Sah
Abstract: Tax is the most important sources of revenue for the government of any country, the development of any country’s economy largely depends on the tax structure it has adopted. A Taxation Structure which facilitates easy of doing business and having no chance for tax evasion brings prosperity to a country’s economy. However, a tax system that allows for tax evasion and discourages ease of doing business inhibits the expansion of the economy of the nation. As a result, the taxation system has a big impact on how a country develops. India has a sophisticated tax system. According to the Indian Constitution's provisions, the three levels of government share the authority to impose taxes and charges. The Indian tax system has undergone several modifications, yet it is still very far from becoming the perfect tax system. Numerous issues, including tax evasion, reliance on indirect taxes, black money, and the creation of a parallel economy, indicate that considerable changes to the Indian tax system are needed in the near future to solve these issues. The investigation in the paper that follows is entirely supported by secondary data. Various statistics are taken from the Indian government's various websites. In India, it is clear that there are several taxes and numerous tax collecting agencies. Additionally, it is evident that indirect taxes are more heavily relied upon than direct taxes for tax collection. Both direct taxes and indirect taxes have benefits and drawbacks.
Pages: 22-25 | Views: 86 | Downloads: 32
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How to cite this article:
Sudhir Kumar Sah. Indian tax structure: An analytical study. Asian J Manage Commerce 2023;4(2):22-25. DOI: 10.22271/27084515.2023.v4.i2a.185