If demand is more elastic than supply, the burden of tax will fall on producers. You can read about the Tax Administration Reform Commission (TARC) – Mandate, Report, Recommendations in the given link.
If the supply is more elastic than the demand, then the burden of tax will fall on buyers.
- Tax Policy Council & Tax Policy Research Unit: Notes for UPSC
- Taxation in India – Direct taxes & Indirect Taxes, Features of Taxation System