Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: VAT Audit :: ACCOUNTING STANDARDS :: empanelment :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: VAT RATES :: list of goods taxed at 4% :: cpt :: Central Excise rule to resale the machines to a new company :: form 3cd
« Budget Extravaganza »
 How Union Budget 2018 impacts individual taxpayers
  How Budget 2018 will be different due to GST
 This is how Budget 2018 announcements may help you save tax
 Here's why the government advanced the Budget date
 Will Budget 2018 Reduce Your Income Tax? 10 Expectations
 How Budget 2018 will be different due to GST
 Will Budget 2018 cut tax on switch from dividend to growth option in mutual funds?
 Startup eco-system looks forward to the budget for addressing tax dilemma
 High time to prioritise non-tax revenue in the Budget
 Govt may abolish dividend distribution tax in budget
 Budget making in the GST era: paradigm shift

Fiscal sops rollback to depend on growth ahead: Mukherjee
October, 30th 2009

Finance Minister Pranab Mukherjee on Friday said a schedule for rolling back the tax breaks announced last year to help the economy tide over the ripple of worldwide recession would depend on the domestic economys growth in the coming months.
Besides, the countrys most ambitious tax reform initiativea comprehensive nationwide uniform goods and services tax (GST)might miss its April 1, 2010 deadline as some contentious issues remain to be sorted out.
I will present my views on the exit policy on fiscal stimulus packages at the G20 meeting next Saturday, Mukherjee (74) said at the annual Hindustan Times Leadership Summit.
Finance ministers of G-20, the group of worlds richest nations, would meet at St Andrews, Scotland over the next weekend to discuss issues of a global financial regulatory architecture and economic growth.
I will have to watch the situation of progress in the second and third quarters after which I may be in a position to take a call, he said while addressing a session on Reviving Indias economy: critical factors.
The countrys gross domestic product (GDP) for April to June quarter grew 6.1 per cent, up from 5.8 per cent in the previous quarter, but the spectre of a drought this year has muted cheers.
The prime ministers economic advisory council has projected that farm output would contract by 2 per cent this year, a view echoed by the finance minister as well.
On the proposed GST, which is envisaged to be a comprehensive value added tax on goods and services, Mukherjee said consensus eluded among states on some areas.

In large areas we have been able to arrive at convergence of views. Constitutional amendments are required (for rolling out GST). I am trying to stick to the time schedule, but there could be some slippages, he said.

The indirect tax system is mired in a multi-layered structure that includes levies such as excise duty, central sales tax, VAT and service tax among others. In its final form, GST is expected to remove these distortions as all the existing taxes will be subsumed under a singular regime.
Macroeconomic policy makers are currently grappling for options to sustain high growth amid rising government debt burden.
Mukherjee said return to a 9 per cent growth rate would critically depend on the performance of the farm sector.
In order to achieve 9 per cent, the agriculture sector growth should not be less than 3.5 per cent, Mukherjee said.
Mukherjee exuded optimism that the Indian economy would return to a 9 per cent plus growth trajectory in around two years.
Fiscal consolidation and inclusive growth were two of most the critical concerns of the government, he said.
The government is staring at a precariously high debt burden that would balloon the fiscal deficit for 2009-10 to 6.8 per cent.
I want to come back to 5.5 per cent fiscal deficit in 2011-12 and to 4 per cent after that, he said.
Mukherjee said that Indias recovery would follow a similar pattern to the trends in the global economy, especially for the export sector, which has contracted for 11 consecutive months as demand for goods dried out from the major economies such as the US and the EU.

The finance minister underlined the need for a better security environment to foster growth and the economic reforms process would have to be taken to its logical conclusion through a broad-based political consensus.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

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