Taxation System In India

Advertisement

India has a well-developed tax structure with clearly demarcated authority between Central and State Governments and local bodies.

Central Government levies taxes on income (except tax on agricultural income, which the State Governments can levy), customs duties, central excise and service tax.

Value Added Tax (VAT), (Sales tax in States where VAT is not yet in force), stamp duty, State Excise, land revenue and tax on professions are levied by the State Governments.

Local bodies are empowered to levy tax on properties, octroi and for utilities like water supply, drainage etc.

In last 10-15 years, Indian taxation system has undergone tremendous reforms. The tax rates have been rationalized and tax laws have been simplified resulting in better compliance, ease of tax payment and better enforcement.

The process of rationalization of tax administration is ongoing in India.

Since April 01, 2005, most of the State Governments in India have replaced sales tax with VAT.

 

 

Advertisement
The following two tabs change content below.
We, at BMS.co.in, believe in sharing knowledge and giving quality information to our BMS students. We are here to provide and update you with every details required by you BMSites! If you want to join us, please mail to [email protected]
21 Comments
  1. zniquqg 2 months ago

    Statutory vignette are phlogistic in the NSICU <a href="[Link deleted]cialis without rx smaller and acer!) Can antihistamines placet ED

  2. seo 2 months ago

    … [Trackback]

    […] Find More on that Topic: bms.co.in/what-is-the-taxation-system-in-india/ […]

  3. seo service 1 month ago

    … [Trackback]

    […] Find More Information here to that Topic: bms.co.in/what-is-the-taxation-system-in-india/ […]

  4. how much is cialis 1 month ago

    Fftphy nkuupj <a href="[Link deleted]price when will cialis be generic

  5. Dvcfnm vtiyph <a href="[Link deleted]price for cialis cialis on line

  6. … [Trackback]

    […] Find More on on that Topic: bms.co.in/what-is-the-taxation-system-in-india/ […]

  7. youtube traffic 1 month ago

    … [Trackback]

    […] Find More Info here on that Topic: bms.co.in/what-is-the-taxation-system-in-india/ […]

  8. Wbaglm jhmcaq <a href="[Link deleted]20 mg How to get viagra

  9. Buy pfizer viagra 4 weeks ago

    Wgzlzr kbggtr <a href="[Link deleted]viagra online cheap Sample viagra

  10. Buy Vyvanse Online 4 weeks ago

    … [Trackback]

    […] Find More to that Topic: bms.co.in/what-is-the-taxation-system-in-india/ […]

  11. Overnight viagra 4 weeks ago

    Mldfnl vsgabc <a href="[Link deleted]viagra Samples of viagra

  12. Buy brand viagra 4 weeks ago

    Ijzdkp zukpmu <a href="[Link deleted]viagra without rx Overnight delivery viagra

  13. Ygobgh egcyla <a href="[Link deleted]viagra Us viagra

  14. … [Trackback]

    […] Read More Information here on that Topic: bms.co.in/what-is-the-taxation-system-in-india/ […]

  15. Uegxtd nuatqy <a href="[Link deleted]100mg Drug viagra

  16. EstherKef 3 weeks ago

    Xeheqr wcbupq <a href="[Link deleted]the counter viagra Buy viagra no prescription

  17. best otc ed pills 1 week ago

    Prhevg kcgmmo <a href="[Link deleted]ed pills mens erection pills

  18. Izspla isslph <a href="[Link deleted]pills that work erection pills

  19. men's ed pills 5 days ago

    Yksjjq vtlbkl <a href="[Link deleted]pills buy ed pills

  20. Zncbqg cswwpd <a href="[Link deleted]the counter cialis erectile dysfunction medication

  21. EstherKef 1 day ago

    Suiftw jvkxqb <a href="[Link deleted]viagra online Buy viagra lowest price

Leave a reply

Your email address will not be published. Required fields are marked *

*

*

BMS.co.in is aimed at revolutionising Bachelors in Management Studies education, also known as BMS for students appearing for BMS exams across all states of India. We provide free study material, 100s of tutorials with worked examples, past papers, tips, tricks for BMS exams, we are creating a digital learning library.

Disclaimer: We are not affiliated with any university or government body in anyway.

©2020 BMS - Bachelor of Management Studies Community 

A Management Paradise Venture

Ask Us On WhatsApp
or

Log in with your credentials

or    

Forgot your details?

or

Create Account