πΈ Chapter 08 Β· Indian Economy Β· Financial System
Taxation in India
Direct vs indirect taxes, GST structure, income tax, corporate tax, tax reforms β explained with real examples for UPSC & PSC exams.
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Sub-Topics
10
Practice MCQs
10
PYQs
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Very High
π What You Will Learn in This Chapter
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Direct vs indirect taxes
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GST β structure, rates, GSTN
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Income tax β slabs and exemptions
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Corporate tax β rates and reforms
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Customs duty and excise duty
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Tax-GDP ratio in India
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Black money and tax evasion
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Tax reforms β DTC, GAAR
π― Exam Relevance β This chapter appears in:
UPSC Prelims (2β3 Qs/year)APPSC Group 1 & 2TGPSC Group 1 & 2SSC CGL / CHSLState PSC Exams
π Chapter Sub-Topics β Click to Read
Topic 01
Direct vs Indirect Taxes β Differences & Examples
Income tax, corporate tax (direct) vs GST, customs duty (indirect) β differences, examples, and who bears the burden.
Topic 02
GST β Structure, Rates & Implementation
GST Council, CGST/SGST/IGST, GST rates (0%, 5%, 12%, 18%, 28%), GSTN, and impact of GST on Indian economy.
Topic 03
Income Tax & Corporate Tax
Income tax slabs, exemptions, deductions, corporate tax rates, MAT, and recent tax reforms in India.
Topic 04
Customs Duty, Excise Duty & Other Taxes
Import duty, export duty, basic customs duty, anti-dumping duty, and other indirect taxes in India.
Topic 05
Black Money, Tax Evasion & Tax Reforms
Black money problem, demonetisation, PMGKY, GAAR, Benami Transactions Act, and India’s tax reform journey.
Topic 06
Tax-GDP Ratio & Quick Revision
India’s tax-GDP ratio, comparison with other countries, tax buoyancy, and complete chapter revision.
β‘ Quick Access