The book seeks to examine the reforms in three individual segments of Indirect Taxation--Central Excise, Customs and Service Tax. These together constitute 60% of the total tax revenues in the country. While the three taxes are all indirect taxes, the dynamics of reform in each of these individual segments has been different. The book seeks to examine the tax reforms in each. These reforms have influenced the fortunes of a large number of manufacturing sectors. However, in respect of two--Petroleum and Textiles--the influence has been significant. In two separate chapters, the past impact, the present changes and the future course of action have been outlined. The book also has separate chapters on Central VAT and the proposed State VAT.
The book is structurally divided into two parts. Part I deals with the past and present reform measures, while Part II examines the future course of indirect tax reforms. The book argues that tax reform is a ìWork-in-Progressî. Expansion of the tax base is an important theme in all the chapters. One immediate fallout of the tax reform in India has been the declining tax to GDP ratio, but this may improve with policy initiatives to widen the tax base especially in the area of Service Tax, phasing away of indirect tax exemptions and nationwide implementation of State VAT.
The book also looks at the indirect tax administration. Design of a modern tax administration is extremely important to make the tax administration more assessee friendly and revenue efficient. By laying out a road map for the future, the book offers useful suggestions for indirect tax reforms to the policy makers.
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Chapter 1 Milestones in Central Excise
Chapter 2 Growth of Central Excise Revenue & Industrial Growth
Chapter 3 Customs DutiesóRationalization & Restructuring
Chapter 4 Indirect Tax Reforms: Challenge of Widening the Tax Base
Chapter 5 VAT: The International Experience
Chapter 6 VAT: The Indian Experience
Chapter 7 Modernization of the Tax Audit System
Chapter 8 Central Excise Computerization--Vision & Action Plan
Chapter 9 Fiscal Reforms and the Petroleum Sector
Chapter 10 Fiscal Reforms and the Textile Sector
Chapter 11 Shome Committee Report--A Critique
Chapter 12 Kelkar Committee & Indirect Taxes--A Critique
Chapter 13 Expansion of Service Tax and Integration with Central Excise as 'Goods and Services Tax'
Chapter 14 State VATóIssues of Implementation
Chapter 15 Indirect Tax Administration--Future Directions for Reform
Chapter 16 Some Important Issues for the Future
Appendix I Vision Statement of the CBEC
Appendix II Tables 1 to 14
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