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India became a fully integrated economy 67 years after its political integration as a Constitutional republic when the principle of one nation one tax finally became a reality on July 1, 2017. The overarching goal of Article 301 of the Constitution was always to ensure that trade, commerce and intercourse throughout the territory of India […]
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1. Constitutional Provisions: The Constitution of India vests the Parliament with plenary legislative powers to impose taxes on matters specifically enumerated in the Union List and all the power of making any law imposing a tax not mentioned in Concurrent or State Lists, as provided by Article 248(2). “Tax on income” is defined in an […]
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