What was the purpose of Wanchoo Committee established in 1970?
The Planning Commission appointed him the head of a committee to look into industrial development for the backward areas in India and to recommend fiscal and financial incentives for industries in these areas.
What is Chelliah committee?
The Government appointed a Tax Reforms Committee under Prof Raja Chelliah to lay out agenda for reforming India’s tax system. This TRC came up with three reports in 1991, 1992 and 1993 with several measures, which can be summarized in these points: Bringing the services sector in the tax net within a VAT system.
What is direct tax explain?
A direct tax is a tax that a person or organization pays directly to the entity that imposed it. An individual taxpayer, for example, pays direct taxes to the government for various purposes, including income tax, real property tax, personal property tax, or taxes on assets.
What was the subject of sarkaria Commission?
Sarkaria Commission was set up in 1983 by the central government of India. The Sarkaria Commission’s charter was to examine the central-state relationship on various portfolios and suggest changes within the framework of Constitution of India.
Who is the father of GST in India?
Vajpayee set up a committee headed by the Finance Minister of West Bengal, Asim Dasgupta to design a GST model. The Asim Dasgupta committee which was also tasked with putting in place the back-end technology and logistics (later came to be known as the GST Network, or GSTN, in 2015).
Who is the father of tax?
He was awarded Padma Vibushan in 2007. He is often referred to as “The Father of Tax Reforms”….Raja Chelliah.
| R. J. Chellaiah | |
|---|---|
| Occupation | Economist, Founding Chairman of Madras School of Economics |
| Spouse(s) | Sita Chelliah |
| Children | Two daughters |
What are 3 types of taxes?
Tax systems in the U.S. fall into three main categories: Regressive, proportional, and progressive. Two of these systems impact high- and low-income earners differently. Regressive taxes have a greater impact on lower-income individuals than the wealthy.
What are the 12 types of taxes?
Learn about 12 specific taxes, four within each main category—earn: individual income taxes, corporate income taxes, payroll taxes, and capital gains taxes; buy: sales taxes, gross receipts taxes, value-added taxes, and excise taxes; and own: property taxes, tangible personal property taxes, estate and inheritance …
How many recommendations does Dec give?
The committee submitted its report in August 1978 and made 132 recommendations to revive and strengthen the declining Panchayati Raj system in the country. As a result of this report, the Indian states of Karnataka, Andhra Pradesh, and West Bengal passed new legislation.
Which of the following committees made recommendations with respect to Centrestate relations?
THE ADMINISTRATIVE REFORMS COMMISSION (1969) The Administrative Reforms Commission (1969) made 22 recommendations to improve Centre-State relations.
Who invented GST?
2000: In India, the idea of adopting GST was first suggested by the Atal Bihari Vajpayee Government in 2000. The state finance ministers formed an Empowered Committee (EC) to create a structure for GST, based on their experience in designing State VAT.
Who introduced tax in India?
James Wilson
James Wilson, the Scotsman who created India’s first Budget, introduced the income tax act in 1860.