Monday, December 12, 2005
Indirect Taxation in India
Indirect taxation in India is a major source of incoe for the Government. In the current year the total taxes through this would be in the region of about Rs.500,000 Crores ( about $ 112b)
The main streams are:
Central Sales Tax; State Sales Tax; State Value Added Tax (VAT); Central Excise Duty( CENVAT); Customs Duty and Service Tax..
The main streams are:
Central Sales Tax; State Sales Tax; State Value Added Tax (VAT); Central Excise Duty( CENVAT); Customs Duty and Service Tax..
# posted by Hiregange @ 12:41 AM 
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With the proposed GST from 2010 onwards, the field of Indirect taxation is poised for a bigger leap. while GST is likely to bring in a higher revenue kitty to the Government if one is go by the VAT revuenue as against the erstwhile saels tax, the trade and industry has to safeguard themselves by checking the level of compliance before hand though even a white paper on the proposed model is not available.
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