Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: empanelment :: due date for vat payment :: form 3cd :: TDS :: VAT RATES :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company
 
 
News Headlines »
 Income Tax Department expands list of deposits, transactions under scrutiny
  Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962
 Master Directions on Access Criteria for Payment Systems
 RBI-Scheduled Bank's Statement of Position in India as on Friday, January 06, 2017 (Revised)
 3 Big Mistakes To Avoid This Tax Season
 The Top 5 Tax Stories Of 2017
 Are multiple service tax rates in the offing?
 All you need to know about claiming tax break on HRA
 How much income tax you should pay on investments in gold?
  Best ways to save tax in 2017
 8 unknown stocks that could yield huge returns

FICCI suggest govt to withdraw CST by '09
October, 30th 2006

Industry body FICCI, in its pre-budget suggestion on indirect taxes, has urged the government to withdraw Central Sales Tax (CST), in a phased manner, by 2009.

It recommended lowering of CST by one per cent every six months and sought a clear direction on the entry tax policy which the States will adopt post CST.

Since the intention of the government is to put Goods and Services Tax (GST) in place from April 2010, it is important that the government must bring all items under the ambit of VAT regime, FICCI said in a release.

To have a national VAT in place, a roadmap should be laid down with total incidence of 20 per cent (Cenvat 12 per cent and VAT 8 per cent). This will provide the competitive edge to India in the global matrix as well, the release said.

FICCI also believes that there is an urgent need for a massive cut in commodity taxes, especially on demand elastic items to stimulate demands in the economy.

There is also need to move away from the over-dependence on manufacturing sector as the major revenue earner and instead widen service tax net and restructure custom duties, it said.

Besides, FICCI has also pointed to the need for giving a fiscal booster in terms of tax benefit to sectors like food processing, textile, tyre industry, electronic hardware etc.

On Oil and Gas sector, it said a 10 year tax holiday under section 80 IA be granted to pipelines, storage terminals and other related facilities for transportation and storage of petroleum products.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions