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: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: list of goods taxed at 4% :: due date for vat payment :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: VAT Audit :: cpt :: TAX RATES - GOODS TAXABLE @ 4%
 
 
Indirect Tax »
 Suspicious bank deposits first in Income Tax’s probe queue
 Who should you believe on LTCG tax?
 Double Income tax exemption limit to Rs 5 lakh: EY surveya
 Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016
 Tax department circular on indirect transfer put on hold
 Rising share of indirect taxes a step back to regressive era
 Double-digit Increase in Direct, Indirect Tax Collection, Says Arun Jaitley
 What is Direct tax?
 Indirect tax mop-up rate slows after note ban, Jaitley dismisses slowdown
 Tax buoyancy improves, thanks to indirect levy
 FM may unveil GST timeline, state compensation corpus on Feb 1

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 2017 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