Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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
 
 
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: list of goods taxed at 4% :: VAT Audit :: TDS :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: cpt :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: VAT RATES :: ACCOUNTING STANDARDS
 
 
Direct Tax »
 CBDT asks I-T dept to take urgent steps
 I-T department asks taxpayers to update their information on e-filing portal
 Companies may have to submit income estimates by 15 November
 CBDT proposal on advance estimates of tax liability irks industry
 Advance tax calculation: Firms may have to furnish Apr-Sept income estimates
 Companies may have to furnish Apr-Sept income estimates to I-T dept
 CBDT working on a draft rule that makes it compulsory for companies to provide income estimates by Nov 15
 Companies, HNIs may soon have to specify reason for paying less advance tax than previous year
 TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
 CBEC tells field officers to take GST disputes to Supreme Court
 Jurisdiction-free income-tax assessment on the cards

Rationalise direct taxes to mitigate slowdown effects
February, 15th 2010

The Confederation of Indian Industry (CII) has urged the government to rationalise direct taxes which would help consolidate the manufacturing sector, mitigating the effects of the global slowdown, and also facilitate its transition to the next level of growth.

"Rationalisation in direct taxes is among the critical policy instruments with which the government can help the manufacturing sector to consolidate its position not only to mitigate the effects of the global slowdown but also to facilitate its transition to the next level of growth," the CII said in a statement.

While the current growth figures are encouraging, account needs to be taken of the fact that the impressive numbers are owing to a low base in December 2008 when there was a 0.2 percent decline in output, the CII said.

India's Index of Industrial Production (IIP) grew 16.8 percent in December last year while it was 11.7 percent in November and 10.3 percent in October. The manufacturing sector saw its output surge 18.5 percent during December last year, according to official figures.

The industry body also urged  substantial rationalisation of the Minimum Alternative Tax (MAT) to promote investment.

MAT was introduced by the government to counter the rapid increase in the number of zero tax companies arising out of tax exemption, deduction and higher depreciation and also widening the tax net. The rate has been increased gradually to reach 15 percent last year.

"We feel that such a high rate of MAT dilutes the intended incentives available to industry," the CII said.

The CII also stressed on the need to boost investment and employment through fiscal incentives at a time when non-food credit is growing at a rather conservative pace of 15 percent compared to around 30 percent before the onslaught of the slowdown despite enough liquidity in the system.

"The upward pressure on interest rates with growing tightening of the monetary policy further justifies the need for investment- linked fiscal incentives for the sector," the CII said.

Besides this, the CII has also urged Finance Minister Pranab Mukherjee to address the concern of  industry with regard to complexities involved in tax payments, which raise monetary and non-monetary cost of compliance.

 
 
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