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Fiscal Policy: Indian Taxation Regime And Types Of Taxes (for UPSC CSE)
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This lesson begins by explaining one of the fiscal policy instruments used, the Indian Taxation Regime. It gives an overview of how it is oriented and divided, the kind of tax structure there is and which one of those contribute more. The types of taxes in India are then taught in detail. It also gives a summary of the important terms pertaining to taxation and the taxation reforms. Lastly, there is a brief on a question which was asked during the Prelims.

Ayussh Sanghi is teaching live on Unacademy Plus

Ayussh Sanghi
Passionate Educator - CSE / Other Govt Exams [Peep into my Unacademy Plus Courses & experience awesome learning.]

Unacademy user
correct - 48 wrong - 27 score - 78
u made economy as cup of tea...very easy to understand
Thank you Sir........................ Thanks to unacademy.................................
Sir, are you going to make detailed lessons/course for each topic discussed ? or should we refer any book to cover these elaborated topics
Thank you sir for this awesome lesson.
Sir, I am confused about the last question (VAT related)...please explain

  2. ABOUT ME Passionate about Teaching >Taught at most reputed Civil Services Institutes >CA, Lawyer Follow me on: AyusshSanghi

  3. UNIT V FISCAL POLICY Let's Discuss this in separate components: (a) Fiscal Measures (b) Annual Financial Statements (c) Indian Taxation Regime (d) Planning

  4. UNIT V FISCAL POLICY In this slide I would In this slide I would be discussing the first component: (c) Indian Taxation Regime (d) Planning

  5. UNIT V - FISCAL POLICY c) Indian Taxation Regime O How is Indian Taxation Regime oriented and divided? o What kind of Taxation Structure do we have: o Progressive Regressive o If Progressive then which are the taxes which are levied on citizens? O If Regressive then the components of taxes levied? o Which one has more contribution in the total tax collection of the Government?

  6. UNIT V FISCAL POLICY (c) Indian Taxation Regime Types of Taxes in India: Direct Tax - Corporate Tax, Income Tax Wealth Tax Indirect tax Excise Tax, Customs, VAT, Service tax

  7. UNIT V FISCAL POLICY (c) Indian Taxation Regime Other Taxes like o Ad Valorem tax o Tobin Tax, o Cess, o Surcharge

  8. UNIT V FISCAL POLICY (c) Important Terms pertaining to Taxation o What is a Tax Base? o What is Tax Expenditure? o What is the difference between Tax avoidance& Tax evasion? o What are Tax Havens? o Concepts like: Tax elasticity, > Tax Buoyancy, Laffer curve Crowding-out

  9. UNIT V FISCAL POLICY (c) Taxation Reforms Taxation Reforms Direct Tax Code (DTC) o General Anti-Avoidance Rule (GAAR), o Goods and Service Tax (GST) Goods and Service Tax (GST) o What are they and Why are they required?

  10. UNIT V FISCAL POLICY (c) Taxation Reforms Example: o Goods and Service Tax (GST) o Its Purpose/ Need o Advantages and disadvatages of GST Issues with regard to implementation of GST o How to compensate for the loss of taxes to be deleted?

  11. UNIT V - FISCAL POLICY (d)Planning o What is Planning? o Relevance of Planning in India? o Institutions involved in Planning in India and the genesis behind having a 5YP? o A general idea on how planning has evolved over the years (since Independence) How planning takes place at the State and National level

  12. BE CAREFUL While preparing for the above make notes of contemporary issues pertaining to: o Latest committees set-up with regard to Fiscal and Economic Reforms like: Financial Sector Legislative Reforms Commission (FSLRC) Financial Action Task Force (FATF), o Financial Stability and Development Council (FSDC) O Nachiket Mor committee etc.

  13. PRELIMS 2014 The main objective of the 12th Five-Year Plan is A. Inclusive growth and poverty reductions B. Inclusive and sustainable growth C. Sustainable and inclusive growth to reduce unemployment D. Faster, sustainable and more inclusive growth Solution (d)