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: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: VAT Audit :: TDS :: empanelment :: ACCOUNTING STANDARD :: form 3cd :: articles on VAT and GST in India :: cpt :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« Service Tax »
 Credit Note And Debit Note Under Gst
 Demonetisation hits service tax, excise duty collection
 GST on a knife-edge as states act tough
 Parliament Winter Session: Govt keen on proper discussion on GST Bills
 Service Tax revision to make digital content expensive: Here’s how it will impact you
 GST Council may reduce tax slabs in future: CBEC chief
 Govt to waive service tax on card transactions up to Rs 2,000
 Recovery Of Tax Under Model Gst Law
 Income Tax officials hunt for Mumbai’s ‘ghost’ assessee
 GST delay to impact Budget
 If GST not rolled out by Sept, there won't be taxation in country, warns Jaitley

GST (goods and services tax) advent gives Centre room for hike in excise duty
February, 20th 2013

Although there are various estimates by government and independent agencies of a revenue-neutral rate (RNR) for the goods and services tax (GST), it is clear that the Centre has room to raise the excise and service tax rates in the run-up to the proposed comprehensive indirect tax likely to be ushered in from 2014-15. With few options to boost revenue buoyancy and a tough fiscal deficit target of 4.8% set for 2013-14, finance minster P Chidambaram might look at the option of raising the median central excise duty from 12% at present by one or two percentage points in the Budget. The policy of having a negative list of service tax might help boost revenue from this head, which still remains the fastest-growing one but has shown signs of a plateauing in the last couple of years.

After the recent Centre-state consensus on issues that so far delayed the introduction of GST, officials of the central and state governments are now struggling to agree on the structure of the “destination-based consumption tax” that militates against tax cascades and is expected to yield an additional one and half percentage points in GDP growth. As the table shows, the RNR for GST estimated by various agencies is much below the arithmetic total of central excise/service tax and state VAT rates at present. Of course, combined (Centre-state) GST rates being discussed among policymakers are much higher (from 16% to 20%) and so the Centre has flexibility to raise rates for a year.
ad}

 
 
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 Vision

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