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: VAT RATES :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: list of goods taxed at 4% :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: due date for vat payment :: articles on VAT and GST in India :: empanelment :: Central Excise rule to resale the machines to a new company :: cpt :: ACCOUNTING STANDARD
Indirect Tax »
 Applicability of TDS provisions of section 194-I of the Income-tax Act, 1961 on lump sum lease premium paid for acquisition of long term lease-regarding
 CBDT seeks monthly data of disposed I-T appeals
 Further indirect tax may be levied in 2017
 India has to make its own tax law
 Centre warns against criticism of GST network
 Indirect tax collection jumps 26% in April-September, direct tax 9%
 Indirect Tax collections up
 Thank you note from income tax department
 Tax dept scanning IDS disclosures filed through post
 Poor management cause of financial pressure on Centre
 GST to have short-lived impact on inflation: RBI

Addressing expectations on indirect taxes
June, 29th 2009
A key expectation from Budget 2009 on indirect taxes is with regard to rationalisation of duty rates. The issue can be framed from the government standpoint as one requiring a trade-off between the imperative to address the very large fiscal deficit, with the attendant challenges on revenue mobilisation, and the continued sluggishness of the Indian economy and for the need to consequently address the economic slow down from a fiscal standpoint. However, the issue is also to do with setting the direction in terms of signalling of the likely rates of indirect taxes under the impending Goods and Service Tax (GST).

In relation to customs duties, the poor pace of collections so far and the challenge of the fiscal deficit could mean that the government would possibly not reduce the median rate of customs duty from the present rate of 10 per cent to ASEAN levels as per its stated intent. Indeed, in addition the government could also minimise product based and end use based exemptions. Further, the government might reintroduce the basic customs duty of 5 per cent on crude oil imports. The customs duty on crude oil imports was withdrawn at a time when crude oil prices were at an all time high. Given the significant decrease in crude oil prices since then, the reinstatement of the 5 per cent duty on crude is a distinct possibility. This, of course, leads to the discussion around freeing up retail prices of POL such as petrol and diesel in order to protect the refineries from incurring losses. The government could seriously consider this policy.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

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