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: form 3cd :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: VAT RATES :: articles on VAT and GST in India :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: VAT Audit
News Headlines »
 What to do if your TDS is not deposited with the government
 What if you forget to verify your Income Tax return?
 TDS on rent and other tax tasks to complete before March 31
 5 income tax changes which will come into effect from April 1, 2018
 Why you shouldn't be a last-minute tax filer
 How to calculate income tax for this assessment year on Moneycontrol
 6 Tax notices you may get and how to cope with them Income Tax Notice
 Deadline to pay advance tax ends tomorrow: Here is a step-by-step guide
  Central Goods and Services Tax (Second Amendment) Rules, 2018
 Income Tax Return Filing Deadline: Waiver On LTCG Tax To End On 31 March. Details Here
 Income tax returns (ITR) filing: Top mistakes that can be very costly

Finmin plans to lift double tax on industry, services sectors
November, 30th 2006

The finance ministry is considering the removal of the double-taxation policy on the industry and services sectors, particularly in the telecom sector, to simplify and rationalise the existing tax structure.

Speaking at a seminar conducted by industry body Assocham, PC Jha, a member of the Central Board of Excise and Customs, stated that the telecom sector is registering a growth of 30%, while the growth of its service tax collection is just 9%.

I have issued instructions to the concerned department to look into the issue as the ratio between the growth of the telecom sector and that of its service tax collection is not commensurate. The ministry will shortly make an announcement to this effect making amendments to the circular open to double interpretations, to ensure that services are only taxed once, he said.

He added that for the current fiscal so far, the service tax revenue collection has exceeded previous years collection by 65%. The ministry intends to collect a revenue of Rs 4,50,000 crore, both through direct and indirect taxes. The imposition of a service tax is expected to contribute a revenue of Rs 40,000 crore in this fiscal, said Mr Jha.

He said that the government has fallen short of its revenue collection, both from direct and indirect taxes, by a significant percentage because the industry has not been coming forward to pay the taxes, thus creating a compliance problem.

Therefore, the government has decided to control those manufacturing units that are practising tax evasion and avoidance. Finance minister P Chidambaram has already issued necessary instructions to tax officials to ensure tax compliance without harassing self-tax assessors, added Mr Jha.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

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