INDIRECT TAXATION AND REFORMS IN INDIAN CONTEXT

ABSTRACT

Tax systems the world over have undergone significant changes during the last twenty years as many countries across the ideological spectrum and with varying levels of development have undertaken reforms The wave of tax reforms that began in the mid-1980s and accelerated in the 1990s was motivated by a number of factors. In many developing countries, pressing fiscal imbalance was the driving force. Tax policy was employed as a principal instrument to correct severe budget deficits. Therefore, the present paper tries to review the indirect tax reforms in India. And also it has made an attempt to analyse evolution of Indian tax structure along with central level as well as state level tax reforms that have changed the present tax system in India. 

FULL TEXT