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: cpt :: form 3cd :: VAT Audit :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: empanelment :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: ACCOUNTING STANDARDS :: TDS :: articles on VAT and GST in India
 
 
« News Headlines »
  Best ways to save tax in 2017
 8 unknown stocks that could yield huge returns
 Government may set threshold for probe into deposits to prevent harassment of taxpayers
 How to calculate capital gains tax
 April 1 still the target for GST: FM
 How to respond to CBDT’s tax compliance notice
 Goods & Services Tax (GST)(As On 01-01-2017)
 Excise, service taxpayers to migrate to GST portal by January 31
 Tax numbers belie slowdown: FM
 Income tax (1st Amendment) Rules, 2017
 Anti-avoidance tax rule to kick in from April 2017

'Service tax waiver has PM's approval'
April, 25th 2007

The Foreign Trade Policy announcement regarding waiver of service tax on exports was approved by Prime Minister Manmohan Singh and was not unilateral as suggested by the Finance Ministry.

"No Foreign Trade Policy can be announced without approval of the Prime Minister," a senior Commerce Ministry official told PTI here.

He said many rounds of discussions were held with the Finance Ministry on the proposal and Prime Minister's clearance was obtained two days before its announcement.

Since Parliament is in session (though in recess), a copy of the policy was delivered at the Speaker's office before it was made public.

The official was reacting to reports that Finance Ministry was "taken by surprise" by Commerce and Industry Minister Kamal Nath's April 19 announcement regarding waiver of service tax on exports.

Officials in the Finance Ministry had said yesterday that the concession to exporters having a major revenue implication would not be notified unless the Prime Minister's Office takes a decision.

When asked whether his ministry was opposed to the tax waiver, Finance Minister P Chidambaram said: "I do not want to comment on it".

The two ministries have also been at the logger heads on the SEZ policy being implemented by the Commerce Ministry. The Finance Ministry has said that tax concessions to SEZs would translate into losses to the tune of Rs 1,00,000 crore to the exchequer.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

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