DOI: 10.7910/dvn/t4wkwt
title: Navigating the Dual Pillars of Financial Integrity: The Evolution of Taxation and Auditing in the Modern Indian Economy

description: This dataset, titled "Simulated Multi-Industry Corporate Financial Panel Dataset (2018–2023)," is a synthetic panel designed to model the financial performance and tax compliance trajectories of Indian corporate entities. It encompasses 108 observations across four key industries: Manufacturing, Technology, Retail, and Pharmaceuticals.

The data is specifically structured to facilitate longitudinal analysis of the impact of Goods and Services Tax (GST) implementation and corporate tax reforms in India. It includes key financial variables such as Revenue, Net Income, Total Assets, Total Equity, and Debt levels.

&lt;b&gt;Methodology:&lt;/b&gt; The data is simulated using stochastic modeling based on historical sector-specific growth rates, typical profit margins, and the documented economic "pandemic dip" of 2020. This dataset serves as a robust tool for researchers and students to practice financial ratio analysis (ROA, ROE, Current Ratio) and to simulate tax planning scenarios within a controlled, error-free environment.
description: Dataset Purpose:
This dataset is created to support academic research and analysis in corporate finance, accounting, and taxation. It enables cross-sectional, longitudinal, and ratio-based analyses across multiple industries.

Data Structure:

Panel dataset with 3 firms × 6 years (2018–2023) = 18 observations.

Firms represent three industries: Manufacturing, Technology, Retail.

Currency is USD (Millions).

Each firm-year includes Income Statement, Balance Sheet, and Cash Flow variables.

Synthetic Nature:

All data are simulated for academic purposes.

Patterns reflect realistic scaling, volatility, and proportionality of actual corporate financial statements.

No confidential or proprietary information is included.

Derived Ratios:
The dataset supports computation of common financial ratios, including:

Profitability: Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin

Liquidity: Current Ratio

Solvency: Debt-to-Equity Ratio

Efficiency: Asset Turnover Ratio

Special Considerations:

Year 2020 simulates a macroeconomic contraction to allow resilience and stress testing.

Designed for use in educational, analytical, and methodological replication studies.

Intended Applications:

Panel regression modeling (e.g., ROA as dependent variable)

Cross-industry financial performance analysis

Capital structure optimization studies

Liquidity and risk assessment

References to Related Publications:

Gupta, S. K. (2026). Financial Statement Analysis: Tools, Techniques, and Stakeholder Interpretation. [Book]. Available at Google Scholar, Academia.edu, Google Books.

Gupta, S. K. (2026). Navigating the Dual Pillars of Financial Integrity: The Evolution of Taxation and Auditing in the Modern Indian Economy. International Journal of Accounting Information Systems. [Manuscript under review]

Author and Contact Information:

Sourav Kumar Gupta

Tax Manager, KPMG US LLP, Orlando, FL, USA

ORCID: 0009-0007-3304-1334

Google Scholar: Link https://scholar.google.com/citations?view_op=view_citation&hl=en&user=J_Vd5NsAAAAJ&citation_for_view=J_Vd5NsAAAAJ:d1gkVwhDpl0C