Question

Give an account of the reforms i indian tax structure in the post reform period

Answer 1

A comparison of the current structures of India's main central government taxes with those prevailing before 1991 indicates that, following international trends, there has been a sizable scaling back of rates in income, excise, and trade taxes. During this period, states also attempted to harmonize their sales tax rates and, most importantly, introduced a value-added tax (VAT) on 1 April 2005,