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: ACCOUNTING STANDARD :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: VAT RATES :: VAT Audit :: due date for vat payment :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: TDS :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company
 
 
Budget Extravaganza »
 Government should reinstate wealth tax in Budget 2017
 With demonetisation inducing tax compliance will PM Modi cut tax rates in Budget 2017?
 State plan budget utilisation in Odisha
 Maharashtra wants budget advanced to February
 Coastal economic zones may get 10-year tax exemption in next Budget
 Why advancing the Union Budget date may not make much difference
 Govt keen 2017-18 budget should not clash with polls: Arun Jaitley
 Finance Ministry seeks industry suggestions on taxation for Budget
 Budget should focus on fiscal firm up
 Finance ministry keen to present Budget on February 2 or earlier
 Poor railway performance may mar merged Budget

CII seeks cut in corporate tax rate in Budget
February, 15th 2016

India Inc has pitched for lowering of corporate tax rate and a roadmap to phase out incentives in the forthcoming Budget.

“It is suggested that the corporate tax rate should be brought down to 23 per cent,” the Confederation of Indian Industry (CII) said in its pre-Budget memorandum and suggested that the roadmap to eliminate incentives must take into account public comments.

Finance Minister Arun Jaitley had, in Budget 2015-16, announced a plan to bring down corporate tax rate to 25 per cent over the next four years and the Finance Ministry had also come out with a discussion paper on winding up all exemptions.

“It is suggested that minimum alternate tax should be abolished in view of removal of all incentives or, alternatively, the rate be brought down to 10 per cent,” the CII said.

It has also asked the government to maintain the existing rates of service tax at 14 per cent and central excise duty at 12.5 per cent. Further, it has sought credit of the Swachh Bharat Cess, and its utilisation against payment of excise duty and service tax.

Seeking early implementation of the Goods and Services Tax, the industry body has also asked the government to announce a revised roadmap for its roll out. In this regard, it has called for reducing the central sales tax from two per cent to one per cent in view of the delay in implementing the GST.

The CII has also sought early implementation of the recommendations of the Tax Administration Reforms Commission. “The TARC, constituted to examine and suggest reforms focusing primarily on tax administration, had come up with some path breaking recommendations which should be given consideration,” it said.

 
 
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 Experience

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