Through the proposed DTC / GST legislations, the Government has acknowledged the need of new revenue system but the proposed new laws apparently appear to be even more complicated then the present one.
India needs a very very simple legal system, which can be understood and complied by all concerned. The revenue collection laws can be consolidated and written in just one hundred pages instead of over fifty thousands pages in present law, using the following guidelines.
The New fiscal System can be implemented on the followings lines.
1. Consolidation of Old Revenue ActsIncome Tax, Wealth Tax, Service Tax, Security Transaction Tax, Dividend Distribution Tax, VAT, Excise, Customs Acts etc. to be reviewed and
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