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: empanelment :: TDS :: VAT Audit :: cpt :: form 3cd :: VAT RATES :: articles on VAT and GST in India :: due date for vat payment :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« Service Tax »
 If GST not rolled out by Sept, there won't be taxation in country, warns Jaitley
 India’s E-Service Tax Will Add To Foreign Content Providers’ Woes
 GST Council to discuss model laws, tax jurisdiction today
 Tax Invoice Under GST
 Insurance may fall under 12% tax slab in GST, from 14% service tax currently
 GST draft makes it must for companies to pass tax benefit to consumers
 To speed passage, Government plans GST Bills as money Bills
 No service tax on train tickets booked through IRCTC till December 31
 GST Council meet postponed to December
 Banks integrating systems with RBI, GST Network to collect tax: Arun Jaitleya
 Service tax waived for online train ticket booking till Dec 31

GST to reduce tax-related litigations: Moily
February, 20th 2010

The introduction of goods and services tax (GST) would cut down on the number of litigations by revamping the current multiple indirect tax structure, Law Minister M Veerappa Moily said here today.

"Multiple tax complexity increases the transaction cost, litigation and uncertainty," Moily told a conference on international taxation organised by the Income Tax Appellate Tribunal here today.

The law minister pointed out that GST would help the government earn more revenues.

The GST implementation, which has been deferred from its earlier scheduled date of April 1, will replace most of the indirect taxes at the Central and the state level.

He said the current tax structure is a major constraint on competitiveness as it results in increasing the cost of major goods and services.

"The cascading impact of taxes increases cost of indigenous goods by 10-20 per cent. It is a barrier to a common market for growth and leads to production and distribution inefficiency," he said.

Citing proposed reforms in the direct tax front, wherein the new direct tax code is to be effective from April 2011, he said the country's taxation regime is dynamic.

Saying that the country has the potential and opportunity to become a growth engine for the global economy it it takes appropriate policy initiatives and reforms, he said, "Key enablers would be competitiveness, improved productivity infrastructure, good governance and social harmony."

Addressing the conference, Chief Justice of India (CJI) K G Balakrishnan said the differential treatment in direct tax would help people who earn less. He said tax laws ensure that unduly high tax rates are not imposed and everyone pays as per their earning.

The CJI also said with the inflow of foreign direct investment, tax laws come handy in handling disputes.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

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