India's Tax System Decoded: Who is paying the bill? | UPSC | NEXT IAS | Beyond Classroom #tax

Taxes are levied by governments on their citizens to generate income for undertaking projects to boost the economy of the country and to raise the standard of living of its citizens.

The authority of the government to levy taxes in India is derived from the Constitution of India, which allocates the power to levy taxes to the Central and State governments. All taxes levied within India need to be backed by an accompanying law passed by the Parliament or the State Legislature.

CHAPTERS:

00:00 - Introduction
06:49 - What & Why of Tax System
14:39 - Global Comparison
18:48 - Tax Changes & Consumer Behavior
19:54 - Taxing the Superrich
22:46 - Taxation Sources
27:25 - Tax on Petrol
27:49 - Freebies hurting Poor?
34:24 - Disclaimer
34:39 - Case of Agriculture
39:40 - Economic Growth
42:15 - Developed India by 2047?
42:41 - Daily News Decoded
43:29 - Recent Controversies
47:02 - Case of GST
47:46 - Tax Terrorism
48:21 - Best Taxation?
49:42 - Income Tax Removal?
51:39 - What Should Govt. do?
52:00 - Relevance for UPSC
52:45 - Way Forward
53:40 - Budget & Eco. Survey
54:35 - Sustainable Solution
55:06 - Conclusion

In this Beyond Classroom Session, we will deep-dive into this matter that concerns UPSC aspirants and citizens alike. Our faculties will explain this topic comprehensively keeping in mind the relevance regards UPSC CSE and other competitive examinations.

Taxes are of two distinct types: direct and indirect taxes. The difference comes in the way these taxes are implemented. Some are paid directly by you, such as the dreaded income tax, wealth tax, corporate tax, etc., while others are indirect taxes, such as the value-added tax, service tax, sales tax, etc.

But, besides these two conventional taxes, other taxes have been brought into effect by the Central Government to serve a particular agenda. ‘Other taxes’ are levied on both direct and indirect taxes, such as the recently introduced Swachh Bharat Cess tax, Krishi Kalyan Cess tax, and infrastructure Cess tax, among others.

After the enactment of various GST laws, GST was launched with effect from 1st July 2017 by the Hon'ble Prime Minister of India in a midnight function at the Central Hall of Parliament of India.

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👉 Speakers -
🔸 B. Singh Sir (CMD, NEXT IAS & MADE EASY Group)
🔸 Vibhas Jha Sir (Faculty, NEXT IAS)
🔸 B.K. Reddy Sir (Faculty, NEXT IAS)

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