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DEMONETIZATION, GST AND WAY FORWARD

Goods and Services Tax - GST - By: - Dr. Sanjiv Agarwal - Dated:- 4-1-2017 - Why taxes are expected to be lowered There is a general sentiment everywhere that India may witness a lower tax regime hence forth. This is the hope of citizens and business .....

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ax payers as well as their contribution is low. Tax to GDP ratio is hovering around 10 percent since last fifteen years whereas in the world, many developed nations have such ratio ranging between 17-30 percent. India's GDP for FY 2016-17 is expe .....

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that a lower tax rate regime spread over a large tax base (assessees) is a better option. Change in tax administrator's mindset that a higher tax regime leads to large tax evasion. Simpler tax laws with e-tax compliance would lead to better comp .....

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eam As an effect of demonetization, black money transactions would reduce substantially and more transaction would into tax net With about ₹ 15 lakh crore of demonetized notes now with banks, bank interest would be subject to tax base and tax c .....

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cantly shrink. Indirect tax reforms would substantially contribute to tax revenues. Huge amount of extravagant expenditure is expected to come down leading to its application in other productive options which would in turn lead to tax revenues. GST D .....

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