When income and consumption is taxed more than production and sales, a tax system gets more progressive because the rich earn and consume more than the poor and therefore pay a higher tax.
For a long time in India, bulk of tax revenues came from production and sales (excise, customs and VAT), but that has changed. Income and service tax now bring a higher share and are growing much faster than other taxes.
![](http://timesofindia.indiatimes.com/photo/56933691.cms)
![](http://timesofindia.indiatimes.com/photo/56933684.cms)
![](http://timesofindia.indiatimes.com/photo/56933679.cms)
For a long time in India, bulk of tax revenues came from production and sales (excise, customs and VAT), but that has changed. Income and service tax now bring a higher share and are growing much faster than other taxes.
No comments:
Post a Comment