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: due date for vat payment :: VAT Audit :: VAT RATES :: ACCOUNTING STANDARDS :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: Central Excise rule to resale the machines to a new company :: empanelment
« Indirect Tax »
 GST may lead to better operating profit margin for multiplex operators
 Indirect taxes must equal direct taxes
  Income Tax dept issues notices to ‘farmers’ claiming suspect agricultural income
 GST would match or be lower than the multiple indirect taxes on real estate
 Tax incidence under GST lower than current indirect taxes
 Here's the complete list of pre-GST discounts being offered by companies
 Applicability of Explanation 2 to Section 132B of the I.T. Act, 1961- reg.
 Here’s all you need to know about TDS and why it is deducted
 New indirect tax regime
 Income tax rates, tax-free limit to stay unchanged
 Revised tax reform bill to benefit consumers

CII for no indirect tax hike till GST implementation
December, 14th 2012

Industry body CII demanded that indirect tax rates be kept unchanged till implementation of Goods and Services Tax regime and rationalisation of subsidies in the forthcoming General Budget for 2013-14. On indirect taxes, CII asked for status quo at the current rates for excise, customs duty and service tax, in order to maintain stability in taxation in its pre-budget memorandum. "The rates may be re-aligned at the time of GST implementation...the budget should aim at facilitating convergence to the long-term objective of having a simplified and rational taxation system," it said.

The industry body said the expenditure should be controlled and there should be cut on non-priority expenditure by rationalising subsides by gradually removing it on diesel. To provide a fillip to the fragile export sector, it recommended the extension of interest subvention scheme to all sectors including automotive, pharmaceuticals, and engineering. CII also underlined the need for fast tracking decision making process for approval of projects by putting in place necessary policy measures to clear 50 large projects in consultation with state governments and relevant ministries within a pre-decided time frame.

Also Read:

Infra boost: Cabinet clears Cabinet Committee on Investment
Cabinet approves cut in reserve price of unsold airwaves
CCEA clears new urea investment policy

It also asked for expediting the setting of the National Investment Board, raising rate of depreciation from 15 per cent to 25 per cent for investment in plant and machinery in a pre-defined period of 3 years. The industry body also suggested raising Rs 50,000 crore (out of the Rs 4 lakh crore) for asset creation through facilitating the settlement of funds locked up in disputes and litigation.

On revenue generation, it suggested raising Rs 50,000 crore through disinvestment, monetising surplus land available with the government, utilising the free cash flows of PSUs (pegged at Rs 41,500 crore) and unlocking the assets locked up in chronically sick PSUs to augment revenue stream. It said the ailing real estate sector also needs a boost through measures such as allowing the sector to raise funds through external commercial borrowings, American Depository Receipts and Global Depository Receipts.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

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