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: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: ACCOUNTING STANDARDS :: form 3cd :: TDS :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: empanelment :: cpt :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« General »
 Confusion over GST persists: Wholesale grain market affected, sales fall by 40 percent in Pune
 Slow tax growth reflects companies' GST troubles
 What is PAN card? Why is it important?
 Govt to cut down executive discretion on tax laws
 Businesses can start filing July returns on GSTN from August 5
 Are you earning abroad? Know the tax rules
 Attention last minute tax filers! Know about key changes made by govt this year
 Accounting relief for IndAS companies
 How you can reduce your tax to zero if you have income within Rs 10 lakh
 NRIs’ overseas bank info needed only for tax refund
 Non-performance: I-T dept transfers 245 commissioners

Tax authorities increasing focus on compliance amid fiscal concerns
April, 18th 2013

As a wide fiscal deficit poses concerns, the revenue department has increased its focus on improving tax compliance to shore up indirect tax revenues and implementation of Goods & Services Tax (GST) in coming years, which would result both in growth and increased revenues, said a report by Ernst & Young.

According to the report titled ‘Indirect Tax in 2013: With change comes complexity’, the economic crisis has led to more countries than ever before to rely on indirect taxes as a sustainable method to rebalance their budgets and stimulate growth.

The report found that the growing prominence of indirect taxes places more pressure on tax administrations to enforce compliance, particularly given that a third of tax revenue is derived from VAT/ GST and taxes on specific goods and services such as excise taxes, customs duties and certain special taxes.

“The economic crisis has resulted in the global predicament of high fiscal deficits which applies to India. With a low tax GDP ratio, India is trying to shore up indirect tax revenues with the Centre expanding service tax with introduction of negative list last year. States have equally tinkered with VAT rates upward to garner revenues in recent times,” Harishanker Subramaniam, Partner Ernst & Young.

The report said it is expected that the filing period for periodic service tax returns will be changed from biannual to monthly or quarterly intervals. The Central government has also proposed integrating the service tax returns and excise returns.

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

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