Taxation in India 1925 to 2007 : History, Policies, Trends and Outlook

Contents: I. Tax structure developments in India: an introduction: 1. Pre-independence tax system. 2. Constitutional provisions pertaining to taxes. 3. Trends in tax-GDP ratio. 4. Direct and indirect taxes. 5. Trends in central taxes. 6. Trends in state taxes. 7. Sharing of central taxes between the centre and the states. II. Edited versions of government reports on taxation: 1. Indian Taxation Enquiry Committee, 1924-25. 2. Income Tax Enquiry Committee, 1935-36. 3. Income Tax Investigation Commission, 1948. 4. Taxation Enquiry Commission, 1953-54: i. Volume I of the report (General). ii. Volume II of the report (Central taxes). iii. Volume III of the report (State taxes). 5. Indian tax reform - a survey, 1956. 6. Customs Reorganization Committee, 1957-58. 7. Incidence of indirect taxation, 1958-59. 8. Committee on sales tax, 1964. 9. Central Excise Reorganization Committee, 1963. 10. Rationalisation and simplification of the tax structure, 1968. 11. Direct Taxes Enquiry Committee, 1971. 12. Taxation of agricultural income and wealth, 1972. 13. Direct Tax Laws Committee, 1978: i. Interim report. ii. Final report. 14. Indirect Taxation Enquiry Committee, 1978: i. Part I of the report. ii. Part II of the report. 15. Tax measures to promote employment, 1980. 16. Committee on replacement of sales tax on Vanaspati, drugs and medicines, cement, paper and paper board and petroleum products by additional excise duty, 1983. 17. Technical study group on Central Excise, 1985. 18. Long Term Fiscal Policy, 1985. 19. Tax Reforms Committee, 1991: i. Interim report. ii. Final report (Part (I). iii. Final report (Part II). 20. Task force on direct taxes, 2002. 21. Task force on indirect taxes, 2002. 22. White paper on state-level Value Added Tax, 2005. 23. Rationalisation of customs and excise duties on edible oils and oilseeds, 2006. III. Time-series tax data (1950-51 through 2004-05) of the Central and State Governments in India: Tables. IV. Appendices. Select bibliography.

"This book provides an exhaustive and critical account of the various aspects of the Indian tax system. It places current developments in the field of taxation in perspective.

Part I of this work traces the structural evolution, explains the legal framework, and describes the present system of taxation in India. Besides being the main source of revenue, both for the Central and State Governments, taxation is an effective instrument to realise various socio-economic objectives of national policies. There are 7 chapters in this part which explain different dimensions of Indian taxation.

Part II of the book reproduces edited extracts from the reports on taxation published by the Government of India between 1925 and 2006. Recommendations of the various commissions/committees/working groups on taxation set up by the government constitute the core of tax policies pursued in India during the last 80 years. Taxation reports included in this volume highlight contemporary issues in India\'s public finances and record measures suggested by experts, from time to time, to ensure soundness of public exchequer. These reports are an authentic and reliable source for the study of economic history of India. Extracts from taxation reports, some of which are not readily accessible, will acquaint the readers with the historical development of Indian taxation. These extracts were selected carefully to reflect the challenges faced by the country, from time to time, to resolve contentious issues in tax policy. The editor has taken the liberty to edit the selected extracts suitably to standardise the running text without, of course, tampering with the meaning and the contents of the passages. Editorial comments are provided at the beginning of each report.

Part III contains time-series data (1950-51 to 2004-05) on tax revenues of Central and State Governments in India. It would be useful for a cross-section of academic community and researchers, both in India and abroad.

Part IV consists of 3 appendices which provide supplementary information related to taxation in India.

Part V contains glossary of taxation terms. The book is designed to interest a cross-section of readership, viz. teachers and students of economics, commerce, law public administration, business management, chartered accountancy, and company secretaryship. It will also serve the needs of legislators, business executives, entrepreneurs and investors, and others interested in Indian taxation." (jacket)