The reform process for the indirect taxation regime in India has been ongoing for some time, with the prevailing view being that simplification of tax regime and a principle-laden approach was an essential concomitant in the outlook of a developed nation. Much debate has ensued and during the...

This paper studies the impact of replacing sales tax by value-added tax (VAT) on production efficiency and informality among Indian states. We disentangle the production efficiency gains caused by removing the distortions of sales tax from the increase in enforcement caused by VAT's input refund...

Value Added Tax (VAT) is a type of indirect tax that is imposed on goods and services. In one of the most important reforms of the country’s public finances in over the past 50 years, India has finally launched much delayed Value Added Tax (VAT) from 1st April, 2005 in 21 states. VAT has...

The Indian Goods and Services Tax (GST) regime recently replaced the earlier laws providing for tax on supplies of goods and services. Under the new regime, transfer pricing rules have been introduced, which were virtually non-existent earlier. The GST regime insists on arm's length pricing in...

Electoral quotas guaranteeing a threshold level of political representation for women and underprivileged socio-ethnic/religious minorities have been adopted in over 100 countries. This paper examines how the interaction of such quotas with political party structures affect minority welfare. We...

India has grown to be a powerhouse in providing Information Technology (IT) Services to myriad clients all over the world. This sector has shown that it has what it takes to move beyond pure cost arbitrage and up the value chain. Despite the successes of this sector and its prowess in providing...

Black money can be totally eliminated if a new tax system called "TOP Tax system" is adopted and implemented by all nations. Excerpt: - We all know that black money is being generated by tax evasion through unreported/shadow/hidden accounts and also by corruption and fake currency. Tax evasion...

Abstract:- 1) This new economic system contains a new tax system without multiple taxes, tax laws, tax collection departments, tax tribunals and tax enforcement agencies. Citizens need not maintain separate account books and submit tax returns annually for paying either Direct taxes on personal...

Banking structure is redesigned to make India a fully digital nation and to usher in 100% E-governance.Multi dimensional and multipurpose savings account -- It is the main keel of this restructured banking.Purpose of this multi dimensional account:1. This savings account can be used for...