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: cpt :: VAT RATES :: due date for vat payment :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: VAT Audit :: Central Excise rule to resale the machines to a new company :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS
 
 
« News Headlines »
 How to respond to a tax notice under section 143
 Income-tax (22nd Amendment) Rules, 2017
 All about Exports under GST
 Have you missed the due date of filing your Tax Returns?
 What you should know about income tax refunds
 Income tax scrutiny to remain limited despite surge in returns filed
 Regarding Filing of online return for first quarter of 2017-18 extension upto 01-09-2017
 Deadline to file returns extended to 28 August for biz with transitional
 GST input tax credit form
  How to rectify income tax returns
 Govt extends tax exemption for industry in North East, hilly states

Govt not for tax rate hike, base expansion on anvil
November, 27th 2006
In comments that may be seen as pointers to the forthcoming Budget, a senior government official today said that raising tax rates was no more an option. 
 
We are not going to raise the tax rate but are looking at increasing the tax base over a period of time, Revenue Secretary K M Chandrasekhar said at the India Economic Summit organised by CII and World Economic Forum. 
 
Another senior government official, who also spoke at the inaugural session of the Summit, favoured greater liberalisation in retail, banking and other sectors of the services industry to put the Indian economy on a higher growth trajectory. 
 
The services sector contributed 54 per cent to the economy and in next five years it will grow to 60 per cent. The services sector is growing at seven per cent domestically and it can grow at a higher rate with further liberalisation of regulatory framework, Ajay Dua, secretary, Department of Industrial Policy and Promotion, said. 
 
While growth was propelled by services and manufacturing, labour intensive sectors were not expanding that fast, Dua said, pointing to the footwear industry. He said agriculture, which supports 65 per cent of the population, has grown at just three per cent in the last decade. 
 
Dua said the credit delivery system had failed the agriculture system, leading to a large number of suicides in Andhra Pradesh and Maharashtra. 
 
Chandrasekhar said the government sees widening of the tax net as the new mantra for generating resources. 
 
We need systemic changes in the machinery for enlarging the tax base, he said. There is also a need to further rationalise exemption and continue to moderate the tax rate both direct and indirect taxes, he added. 
 
As we go along, there could be further lowering of indirect taxes, he said in the context of tax rates being still higher than the international average. 
 
Over the years, dependence on indirect taxes has come down substantially from 35 per cent of the total revenue in 1990, to 17 per cent in 2006. 
 
However, the share of direct taxes has gone up from 19 per cent to 45 per cent during the same period, he said. This year, the government expects tax GDP ratio of 11 per cent as against over 10 per cent in 2005-06. 
 
To study the cost benefit analysis of tax exemption, the government has entrusted the task to Indian Council for Research on International Economic Relations and National Institute of Public Finance and Policy. 
 
First, we have to look at it (exemptions) before taking a decision on withdrawing them, he said.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

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