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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 businessmen as also being realized (off late) by the Government and tax administration. In direct taxes, the percentage of people contributing by way of income tax and corporate taxes is negligible, given the population of earning population. The number of t .....

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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 compliances and more tax collection coupled with reduced litigation Various tax amnesty schemes would reduce tax litigation and bring tax evaders to main stream Shrinking black money in the system would bring more businesses in the main tax compliant str .....

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