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
Latest Expert Exchange
« Indirect Tax »
 Several records missing from Income Tax department, CIC told
  Indirect tax evasion cases post a decline in FY18-19
 Income tax return revision: How many times can a return be revised? Find out
 CBDT notifies new I-T return forms
 Here are the key changes in tax rules to come into effect from today
 GST revenue growth in 2018-19 to match last 10 years’ indirect tax growth, says SBI report
 Things You Should Know Before Filing Your Income Tax Returns (ITR)
 All education loans do not get income tax benefits
 FM Arun Jaitley to focus on direct and indirect taxes
 Income Tax For Individuals – Assessment Year 2019–20
 States set separate dates to implement e-way bill

Govt may not hike indirect tax rates
January, 21st 2013

Keen to give a stimulus to India Inc as it tries to revive the investment cycle, the government is considering a proposal to continue with the current rates of service tax and excise duty of 12 per cent.

“There is a clear need to give some kind of boost, even if it is in terms of improving sentiments, in order to revive industrial activity. Not burdening them with additional or higher taxes could be one solution,” said a person close to the development, adding that a final decision would be taken close to the Budget 2013-14.

Industrial production dipped by 0.1 per cent in November with poor performance by manufacturing, metal and capital goods sector and once again raised hopes for an interest rate cut by the Reserve Bank of India.

The Indian economy is expected to clock a mere six per cent growth this fiscal and the government has been striving to revive the manufacturing sector, which is a key contributor to growth.

The issue was also raised by industry chambers last week at a pre-Budget meeting with finance minister P Chidambaram, where they suggested that indirect tax rates should not be tinkered with as it would impact manufacturing.
The finance ministry was understood to be considering hiking rates of service tax and excise duty by 2 per cent to 14 per cent, to earn additional revenue to plug the fiscal deficit.

But this would mean bringing excise duty rates back to the pre-crisis level of 14 per cent,

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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