Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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: empanelment :: form 3cd :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: VAT RATES :: articles on VAT and GST in India
 
 
« Direct Tax »
 CBDT launches online chat to answer taxpayers' queries
 CBDT issues draft rules on registration of religious trusts
 Entities with low TDS deduction on radar of tax department
 Income tax unions threaten stir against new software rollout
 CBEC Issued 41 Notifications In A Day To Give Effect To GST Council Decisions In 22nd Meet
 CBEC Issued 41 Notifications In A Day To Give Effect To GST Council Decisions In 22nd Meet
 CBEC Issued 41 Notifications In A Day To Give Effect To GST Council Decisions In 22nd Meet
 CBDT seeks suggestions on framing of rules on country-by-country reporting
 Is it the end of the road for tax havens?
 Government Collects Rs 3.86 Lakh Crore as Direct Tax Till September
 TDS IS PART OF SUM PAYABLE TO PAYEE and is trading liability- interest paid for delayed deposit of TDS is allowable expenditure

Govt taking steps to revisit direct taxes code, says Shome
October, 12th 2012

The Government has initiated a process of taking the direct taxes code (DTC) back to the drawing board again. Parthasarathi Shome, economist and expert on the issue of taxation, said here on Thursday that a detailed consultation process had begun recently.

At an interactive session at the MCC Chamber of Commerce and Industry, Shome said: The world has changed since the DTC was first mooted. I have suggested to the Finance Minister that we need to go back to the drawing board. The changed dynamics had made it obligatory for the Government to re-consider the whole range of tax and related issues.

The consultations with lawyers, industry and academia have begun. It would require effort, manpower and time, he said without going into the specifics. In August, Union Finance Minister P. Chidambaram had indicated that the DTC required a fresh look.

Chidambaram first proposed the idea of the DTC when he was the Finance Minister in the UPA-I Government at the Centre. The proposal envisaged eventual replacement of the Income Tax Act, 1961. The DTC Bill is still to be enacted

Shome felt that taxation imposed by certain States on inter-State movement of goods was a retrograde step in the context of the expected national GST rollout. He also admitted that it was a potential conflict point between States and the Centre.

In his submission to the Finance Committee of Parliament, Shome said he had suggested that in the absence of trust among States and the Centre on tax revenues, efforts must be made to build infrastructure for an information chain on the inter-state movement of goods and taxation by different States on them.

We need to build a clearing house which will monitor such trades and tax credits. Banks could play that role since all the transactions are now routed through them and they have the necessary software installed for online tax payments, he said. The West Bengal Government has reintroduced an entry tax this fiscal.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

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