just after gaining independence in 1947, India inherited a taxation process that necessary urgent reform to align with its developmental goals. The government introduced different taxes in the following many years, focusing on indirect taxes like excise, customs, and income tax to mobilize assets for economic progress. related finance ecosystem fo

[ten] On top of that, the extent of regressive character of an indirect tax depends upon the type of indirect tax.  Empirical proof indicates that excise taxes are generally extra regressive than VAT. This could be attributed to The reality that excise taxes are levied on merchandise which include alcohol, tobacco, and these merchandise comprise a