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| Article Name : | | | REVIEW OF SERVICE TAX AND ITS REVENUE LEADING TO GST | | Author Name : | | | CMA. Makarand Raghunath Sakhalkar | | Publisher : | | | Ashok Yakkaldevi | | Article Series No. : | | | GRT-767 | | Article URL : | |  | Author Profile View PDF In browser | | Abstract : | | | India has a well-developed tax structure with clearly demarcated authority between Central and State Governments and local bodies. Central Government levies taxes on income (except tax on agricultural income, which the State Governments can levy), customs duties, central excise and service tax. Value Added Tax (VAT), stamp duty, State Excise, land revenue and tax on professions are levied by the State Governments. Local bodies are empowered to levy tax on properties, octroi and for utilities like water supply, drainage. In last 10-15 years, Indian taxation system has undergone tremendous reforms. The tax rates have been rationalized and tax laws have been simplified resulting in better compliance, ease of tax payment and better enforcement. The process of rationalization of tax administration is ongoing in India. | | Keywords : | | |
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