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% :: form 3cd :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: ACCOUNTING STANDARDS :: TDS :: empanelment :: VAT Audit :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: cpt
 
 
« Service Tax »
 Rules not ready, key e-way bill for GST may be delayed, says top official
 How Goods and Service tax will benefit the nation
 GST implementation may increase expense ratio of fund houses
 GST structure: an unfortunate compromise
 Extension Of Provisional Attachment Under Service Tax Provisins
 How favourable will GST be for Karnataka?
 GST rate impact: Here’s how the new tax can carry a greater punch
 E-way Bill - movement of goods under GST
 How the GST rates will affect your money
 GST: The coming disruption in the wholesale trade
  Ways In Which GST Will Impact The Average Indian’s Wallet

Do away with corporate tax surcharges, retrospective tax, says EY
February, 25th 2016

Consulting firm EY has suggested to do away with various surcharges which are currently levied by the government on corporates over and above the 30 per cent corporate tax in the forthcoming Budget.

The idea is to allow corporates to go for more capex and thus benefit the country's economy.

Moreover, EY has advocated for doing away with retrospective tax amendment, particularly in connection with the British telecom major Vodafone.

"Corporate tax, which is currently at 34 per cent including various surcharges, must be made free from any surcharge. If this happens, the corporate tax will obviously come down to 30 per cent.

"It will put more money in the hands of corporates and hopefully, they will be deploying it for capex and thus, in either way it will be beneficial," EY Partner and National Tax Leader Sudhir Kapadia told here today.

The department has issued telecom giant Vodafone a reminder for what it claims to be Rs 14,200-crore capital gains tax dues, and has threatened to seize assets on non payment.

"As far as the pending legacy matter of Vodafone case is concerned, it would be good if the government comes out with a bold step by burying the hatchet once for all, which was created by the previous governments at the Centre, by removing the retrospective tax amendment," he said.

"The previous government was unable to collect the tax from the company in past. Hence, the present government at the Centre will not lose anything if it does away with any kind of retrospective tax amendment. But the positive impact which it will create will be far greater," he said.

Even as the government is looking to have broader consensus on important bills like GST, EY has advised the Modi government to start talking to non-Congress regional parties on GST issue.

"I would expect the government (to) start talking to non-Congress regional parties, as they are the ones which are likely to benefit the most whenever GST is implemented in future," he added.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
System Testing Solution Manual Software Testing Solutions Automation Software Testing Solutions System Workflow Testing System Manual Testing

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