Impact of Digitization on Taxation System
Introduction
Introduction
Traditionally, Barcodes were not essentials for launching the products. The most common form of a barcode is the Universal Product Code (UPC), which was first introduced in 1974 for use in grocery store named “Marsh's supermarket, Ohio USA” and the first product which was launched with Barcode was Wrigley's Gum.
EAEU consists of five countries; Russian Federation, Kazakhstan, Belarus, Armenia and Kyrgyzstan.
On 25 September 2014 the Indian Prime Minister, Shri Narendra Modi unveiled the ambitious Make in India campaign with an aim to turn India into a global manufacturing hub. The campaign is a major national program designed to facilitate investment, foster innovation, enhance skill development, protect intellectual property and build best-in-class manufacturing infrastructure. The government has come out with several policy initiatives such as rationalizing duty structure for a wide range of products, extending differential duty structure to components, corporate tax exemptions, increasing ease of doing business, focus on start-ups, promoting skill development, promoting R&D and innovation. These announcements have been well-received by industry partners and manufacturers. The primary objective of this initiative is to attract investments from across the globe and strengthen India’s manufacturing sector. It is being led by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India. The Make in India programme is very important for the economic growth of India as it aims at utilising the existing Indian talent base, creating additional employment opportunities and empowering secondary and tertiary sector. The programme also aims at improving India’s rank on the Ease of Doing Business index by eliminating the unnecessary laws and regulations, making bureaucratic processes easier, making the government more transparent, responsive and accountable.
Here, I’m only putting my views on ongoing COVID19 scenario with respect to INDIA only.
Introduction