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: form 3cd :: cpt :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: TDS :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: VAT Audit :: VAT RATES :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment
 
 
« News Headlines »
 New Opening Financial Controller Chartered Accountant (Manufacturing Plant) A Leading Company
 Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ
 How to benefit from investments in tax saving mutual funds
 60 per cent of income tax notices on fishy cash deposits returned
 All about income tax return form Sahaj
 Why seeing Form 26AS is a must before filing tax return and how to access it
 No tax on notice period pay cut
 Interpretation Of Central Goods And Services Tax (Cgst) Act (Part-1)
 What to do if you haven’t filed your taxes
 Income Tax Declaration To Employer: 10 Changes You Should Be Aware Of
 What your income tax says about you

`Corporates apprehensive of LTU concept'
February, 01st 2007

The concept of Large Taxpayer Unit (LTU), to provide a single-window clearance mechanism for large tax paying corporates, has attracted merely 20 entities out of the targeted 299 in Mumbai.

In his last Budget, the Finance Minister had mooted the idea of LTUs. According to Dr Parthasarathy Shome, advisor to the Union Finance Minister, LTUs are being set up to bring efficiency as well as to modernise and harmonise tax collection procedure. He was speaking at a seminar here recently.

The setting up of LTUs will depend on the number of consents obtained from the taxpayers to be administered by the LTU, he said. However, corporates have not been enthusiastic about the proposal and have expressed apprehensions.

While excise duty, corporate tax/ income tax and service tax are included within the ambit of the LTUs; customs duty is not.

Assessees who have paid excise duty or service tax exceeding Rs 5 crore or advance/corporate tax exceeding Rs 10 crore are eligible to opt for being administered by the LTUs. The LTUs are initially proposed in the five metro cities Bangalore, Chennai, Delhi, Kolkata and Mumbai. Road shows will be held in other cities.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

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