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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: cpt :: VAT RATES :: due date for vat payment :: empanelment :: form 3cd :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: TDS
 
 
« Budget Extravaganza »
 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
 Cabinet’s formal nod to be sought for Budget on Feb. 1

Budget will address Shome panel's tax concerns: FinMin
May, 17th 2014

The finance ministry might address some taxation-related concerns of industry identified by the Parthasarathi Shome-headed forum in the coming Budget of the new government.

The forum for exchange of views between industry groups and government, constituted in July 2013, identified 29 issues in direct taxes and 47 matters in indirect taxes that merited removal of the obstacles and the issue of clarifications or amendment of procedures.

“Several circulars and notifications have been issued by the Central Board of Direct Taxes and Central Board of Excise & Customs, pursuant to these decisions. Some others are in the process of being issued. Some other issues that require changes in law are expected to be addressed in the coming Union Budget,” the ministry stated on Tuesday.

The forum held 18 meetings in August-September 2013 and discussed taxation issues concerning an industry group or sector but did not entertain grievances of any individual taxpayer.

During the two-month period, the forum met every Wednesday with repr%esentatives of various industry groups and associations and covered matters relating to the information technology sector, manufacturing, infrastructure, services, including financial services, THE insurance sector including reinsurance, the export sector, and issues in international taxation.

In order to have structured and meaningful discussions, a format was devised for receiving memoranda from industry groups so as to clearly highlight the tax issue or tax dispute sought to be discussed.

The forum has helped taxpayers in resolving several long-standing issues, the ministry said, adding such consultations bring to the notice of government a tax-related issue or dispute at a preliminary stage, resulting in its resolution much before it snowballs into a greater difficultly for the taxpayer.

Issues pertaining to service tax refunds, Cenvat credit, excise duty levy on sale of goods at loss have already been addressed by the finance ministry based on the forum’s recommendations.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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