Ajay R, Jindal Global Law School, OP Jindal Global University
ABSTRACT
Taxing, an efficient ‘checks and control’ mechanism since the ancient times, makes the whole concept an adaptive, assuring, and alluring way to economically guide a state. The regulatory mechanism, having derived from the basis of law, does extend its reach to the environmental regime making laws on emissions and other means of a body to have involved in a negative impact to the environment. Environmental taxation is majorly levied on the products believed to have a depleting effect on the environment for which excise duties are charged throughout. Organization for Economic corporation and development (OECD) did define environment tax as “those whose tax base consists of a physical unit (or similar) of some material that has a negative, verified and specific impact on the environment.”1 In this paper, we will be delving into the types of environmental taxes prevalent in India, the implications and significance of green tax, and the comparison to the Russian jurisdiction, upon which the concluding part will the last of all.
Environment is a part of world that should be taken deep care of in the real world. Theories and visions of a more greener India wasn’t always the primary motive behind the secondary sector of the economy, but given the present climatic changes, it is imperative we restrict the damage to the environment by one among many ways, a stricter tax mechanism. Starting from the Pigouvian idea to tax any activities that involve in means of environmental hazard, following which the United Nations Conference on the Human Environment, 1972 and Earth Summit in held in Rio de Janeiro 1992 contributed to the recognition of the need to tax environmental costs in a global diaspora.
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