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Customs Duties in India: Progressive Rationalisation and Rethinking

VISION: Journal of Indian Taxation

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Field Value
 
Title Customs Duties in India: Progressive Rationalisation and Rethinking
 
Creator Murthy, K V Bhanu; Professor, Department of Commerce, Delhi School of Economics, University of Delhi, Delhi
 
Subject Customs duties, Reforms, Rationalisation, Export duties
 
Description Customs duties are imposed to raise revenue for the government. Apart from the revenue function, import duties provide a protective barrier for domestic industries. Radical reforms have been introduced in the import tariff since 1991. These reforms were necessary because the customs tariff had become, over the years, very complicated in terms of multiple rates, innumerable exemptions, excessive controls, and elaborate procedures. These infirmities of the customs tariff often led to delays, harassment, corruption, and litigation. Moreover, rationalisation and simplification of the customs duties was needed to move towards a market economy, freedom of trade, and opening up the Indian economy to the outside world. The country has moved towards moderate rates of taxation with a view to improve compliance and reduce litigation.
 
Publisher Journal Press India
 
Date 2015-06-30
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.myresearchjournals.com/index.php/VISION/article/view/2423
10.17492/vision.v1i2.2423
 
Source VISION : Journal of Indian Taxation; Vol 1, No 2 (2014)
2347-4475
 
Language eng
 
Relation http://www.myresearchjournals.com/index.php/VISION/article/view/2423/2352
 
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VISION : Journal of Indian Taxation