Pub Date : 2019-05-31DOI: 10.1017/9781108564120.002
S. Mukherjee, R. Rao
{"title":"Decades of Indirect Tax Reforms in India: A Journey towards Goods and Services Tax (GST)","authors":"S. Mukherjee, R. Rao","doi":"10.1017/9781108564120.002","DOIUrl":"https://doi.org/10.1017/9781108564120.002","url":null,"abstract":"","PeriodicalId":448088,"journal":{"name":"Evolution of Goods and Services Tax in India","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124715362","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-05-31DOI: 10.1017/9781108564120.004
R. Rao
{"title":"Goods and Services Tax: The Thirteenth Finance Commission and the Way Forward","authors":"R. Rao","doi":"10.1017/9781108564120.004","DOIUrl":"https://doi.org/10.1017/9781108564120.004","url":null,"abstract":"","PeriodicalId":448088,"journal":{"name":"Evolution of Goods and Services Tax in India","volume":"94 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126235115","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-05-31DOI: 10.1017/9781108564120.007
R. Rao
{"title":"New Assumptions, New Estimates: Scrutinising a New Report on Revenue Neutral Rate","authors":"R. Rao","doi":"10.1017/9781108564120.007","DOIUrl":"https://doi.org/10.1017/9781108564120.007","url":null,"abstract":"","PeriodicalId":448088,"journal":{"name":"Evolution of Goods and Services Tax in India","volume":"150 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134635221","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-05-31DOI: 10.1017/9781108564120.008
S. Mukherjee, R. Rao
The study analyses the impact of keeping crude petroleum, natural gas, motor spirit (gasoline/ petrol), high speed diesel (diesel), aviation turbine fuel (ATF) and electricity out of the Value Added Tax (VAT) scheme. Specifically, the study finds that keeping these items out of the input tax credit mechanism (either partially or fully) would result in cascading. Through an input-output framework, this study proposes some alternatives to the proposed design of GST and assesses the implications for cascading and prices. It captures the degree of cascading across 48 sectors under different scenarios and explores alternative policy options to phase out under-recoveries of oil market companies on account of sales of diesel and petrol under the administered pricing mechanism.
{"title":"Exploring Policy Options to Include Petroleum, Natural Gas and Electricity under the Goods and Services Tax (GST) Regime in India","authors":"S. Mukherjee, R. Rao","doi":"10.1017/9781108564120.008","DOIUrl":"https://doi.org/10.1017/9781108564120.008","url":null,"abstract":"The study analyses the impact of keeping crude petroleum, natural gas, motor spirit (gasoline/ petrol), high speed diesel (diesel), aviation turbine fuel (ATF) and electricity out of the Value Added Tax (VAT) scheme. Specifically, the study finds that keeping these items out of the input tax credit mechanism (either partially or fully) would result in cascading. Through an input-output framework, this study proposes some alternatives to the proposed design of GST and assesses the implications for cascading and prices. It captures the degree of cascading across 48 sectors under different scenarios and explores alternative policy options to phase out under-recoveries of oil market companies on account of sales of diesel and petrol under the administered pricing mechanism.","PeriodicalId":448088,"journal":{"name":"Evolution of Goods and Services Tax in India","volume":"71 10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130436210","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-05-31DOI: 10.1017/9781108564120.010
R. Rao
{"title":"Goods and Services Tax: Performance and Progress","authors":"R. Rao","doi":"10.1017/9781108564120.010","DOIUrl":"https://doi.org/10.1017/9781108564120.010","url":null,"abstract":"","PeriodicalId":448088,"journal":{"name":"Evolution of Goods and Services Tax in India","volume":"96 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133685355","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-05-31DOI: 10.1017/9781108564120.006
R. Rao
{"title":"Estimation of Revenue Neutral Rates for Goods and Services Tax in India","authors":"R. Rao","doi":"10.1017/9781108564120.006","DOIUrl":"https://doi.org/10.1017/9781108564120.006","url":null,"abstract":"","PeriodicalId":448088,"journal":{"name":"Evolution of Goods and Services Tax in India","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116861619","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-05-01DOI: 10.1017/9781108564120.011
R. Rao, S. Mukherjee
The goods and services tax (GST) has been presented as the major tax reform for the Indian economy. It is therefore of importance to examine the impact it has had on the economy, as well as on the citizens of the economy. There are three broad categories of evidence to look at: The economy Tax administration/compliance Revenues of various governments The impact on revenues of various governments has been examined at some length in Chapter 9. Hence this chapter will look into some of the remaining aspects and present some concluding observations. Impact of GST on Economic Growth and Inflation One of the long-term objectives of introducing GST is that it will reduce the extent of hidden and embedded taxes in the system and thereby create opportunities for investment in order to capitalise on the altered tax regime. The change to GST as a predominant indirect tax was expected to increase gross domestic product (GDP) and reduce inflation. International experience shows that GDP growth falls after introduction of GST but it recovers after two—three quarters and, conversely, inflation rises in the initial quarters before it declines (The Treasury, Australian Government 2003). While it is barely four quarters since the introduction of GST in India and hence the evidence of the reversal of the initial trends might not be visible yet, it would be interesting to identify the trends so far. Impact on Overall Growth Year-to-year growth rate of gross value added (GVA) at basic prices (2011–12 series, at constant prices) shows that growth rate was falling since Q4 of 2015–16 and it was 5.6 per cent at Q1 of 2017–18. The introduction of GST on 1 July 2017 lifts the growth rate of GVA as evident in Figure C.1. However, the average growth rate during 2017–18 (6.4 per cent) is lower than that achieved in 2015–16 (8.1 per cent) and 2016–17 (7.1 per cent). In drawing conclusions about the impact of GST on GVA from these numbers, it should be borne in mind that seven months prior to the introduction of GST, the economy received a shock in the form of withdrawal of high denomination notes.
{"title":"Conclusion: Impact of GST and What Might Happen","authors":"R. Rao, S. Mukherjee","doi":"10.1017/9781108564120.011","DOIUrl":"https://doi.org/10.1017/9781108564120.011","url":null,"abstract":"The goods and services tax (GST) has been presented as the major tax reform for the Indian economy. It is therefore of importance to examine the impact it has had on the economy, as well as on the citizens of the economy. There are three broad categories of evidence to look at: The economy Tax administration/compliance Revenues of various governments The impact on revenues of various governments has been examined at some length in Chapter 9. Hence this chapter will look into some of the remaining aspects and present some concluding observations. Impact of GST on Economic Growth and Inflation One of the long-term objectives of introducing GST is that it will reduce the extent of hidden and embedded taxes in the system and thereby create opportunities for investment in order to capitalise on the altered tax regime. The change to GST as a predominant indirect tax was expected to increase gross domestic product (GDP) and reduce inflation. International experience shows that GDP growth falls after introduction of GST but it recovers after two—three quarters and, conversely, inflation rises in the initial quarters before it declines (The Treasury, Australian Government 2003). While it is barely four quarters since the introduction of GST in India and hence the evidence of the reversal of the initial trends might not be visible yet, it would be interesting to identify the trends so far. Impact on Overall Growth Year-to-year growth rate of gross value added (GVA) at basic prices (2011–12 series, at constant prices) shows that growth rate was falling since Q4 of 2015–16 and it was 5.6 per cent at Q1 of 2017–18. The introduction of GST on 1 July 2017 lifts the growth rate of GVA as evident in Figure C.1. However, the average growth rate during 2017–18 (6.4 per cent) is lower than that achieved in 2015–16 (8.1 per cent) and 2016–17 (7.1 per cent). In drawing conclusions about the impact of GST on GVA from these numbers, it should be borne in mind that seven months prior to the introduction of GST, the economy received a shock in the form of withdrawal of high denomination notes.","PeriodicalId":448088,"journal":{"name":"Evolution of Goods and Services Tax in India","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127604754","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-03-01DOI: 10.1017/9781108564120.009
K. Rao, S. Mukherjee
With some progress in the design of Goods and Services Tax (GST), there is an emerging need to explore the options for administering the new tax regime. This paper explores various options for GST administration.
{"title":"Administration of GST: Can We Continue with Present Structures?","authors":"K. Rao, S. Mukherjee","doi":"10.1017/9781108564120.009","DOIUrl":"https://doi.org/10.1017/9781108564120.009","url":null,"abstract":"With some progress in the design of Goods and Services Tax (GST), there is an emerging need to explore the options for administering the new tax regime. This paper explores various options for GST administration.","PeriodicalId":448088,"journal":{"name":"Evolution of Goods and Services Tax in India","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131011260","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1017/9781108564120.003
A. Bagchi
{"title":"Towards GST: Choices and Trade-offs","authors":"A. Bagchi","doi":"10.1017/9781108564120.003","DOIUrl":"https://doi.org/10.1017/9781108564120.003","url":null,"abstract":"","PeriodicalId":448088,"journal":{"name":"Evolution of Goods and Services Tax in India","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131333020","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}