Central Taxes in India : A Comprehensive Overview

This paper presents a comprehensive overview of central taxes in India, tracing their historical evolution, current structure, and revenue significance. It examines the major direct tax components-Corporate Income Tax and Personal Income Tax-along with indirect taxes such as the Goods and Services Tax, customs duties, and residual excise levies. The analysis highlights key reforms, including the introduction of GST and proposed Direct Tax Code, and evaluates their impact on tax buoyancy, compliance, and fiscal consolidation. By integrating data from government reports, scholarly articles, and policy documents, the study identifies persistent challenges-narrow tax base, high exemption thresholds, and administrative gaps-while suggesting pathways for enhancing revenue mobilization and achieving sustainable fiscal outcomes