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: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: form 3cd :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: due date for vat payment :: VAT Audit :: cpt :: VAT RATES :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4%
 
 
Direct Tax »
 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
 CBDT asks I-T department to take urgent steps
 TDS on interest on deposits made under the Capital Gains Accounts Scheme, 1988 where the depositor has deceased

Union Budget 2012-13: Timing of implementation on GST, DTC remains uncertain, says S&P
March, 19th 2012

Apprehending "uncertainty" in implementation of key reforms like Goods and Services Tax and Direct Tax Codes by the government, global rating agencies have said the budgetary proposals fail to give a timeline on the same.

"While the Finance Minister announced various fiscal reforms, the timing of the implementation of key reform measures such as the Goods and Services Tax ( GST), Direct Tax Codes ( DTC), and the targeted direct subsidy disbursement remains uncertain," Standard & Poor's said.

Another rating agency Fitch said weak public finances are putting pressure on India's sovereign rating.

"The government's willingness and ability to implement it (fiscal consolidation) will be an important component of our assessment of its (India) rating. Implementation risk is high ahead of federal parliamentary elections in 2014," Fitch said.

"Public finances have been deteriorating and remain a key weakness in India's 'BBB-' rating, it said adding, "our outlook on the rating is Stable."

The rating agencies were reacting to Finance Minister Pranab Mukherjee's budgetary proposals for 2012-13 presented yesterday. They said the Budget did not offer much measures to rein in the fiscal deficit.

According to the budget, India's fiscal deficit is estimated at 5.1 per cent of GDP in 2012-2013, compared with 5.9 per cent of GDP in the current financial year.

S&P said India's deficit in the next fiscal is likely to remain high, and uncertainty surrounded the path to subsidy consolidation and to lowering fiscal vulnerability to volatile commodity prices.

Fitch also said the subsidy cap of 2 per cent of GDP set out in the budget would be positive for the country.

The Finance Minister announced proposals aimed at reducing the total size of subsidies to 2 per cent of GDP in 2012-2013, and further down to about 1.75 per cent of GDP in three years.

According to S&P, with a general election likely in 2014, the chances of India achieving a central government deficit target of 3 per cent of GDP for fiscals 2013-2014 and 2014-2015 seem remote.

The finance minister announced an amendment to the Fiscal Management and Budget Responsibility Act, 2003 (FRBM), which was suspended in March 2009.

"Depending on what the Act will cover, we expect the amended FRBM to enhance investors' confidence in the government's commitment to fiscal consolidation," it said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and Development

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