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
Latest Expert Exchange
« News Headlines »
  Income–tax (12th Amendment) Rules, 2018
 Five ways to e-verify your ITR
 Notification No.93/2018 - Customs (N.T.) Central Board Of Indirect Taxes And Customs
 Now don’t forget to file your income tax return Paid TDS?
 National Financial Reporting Authority Rules, 2018
 Jindal Metal Co. Vs. Principal Commissioner Of Income Tax, Delhi-21
 Goods And Service Tax (Gst) Concept & Status As On 1st November, 2018
 Notification No. 91 /2018-Customs (N.T.) Central Board of Indirect Taxes and Customs
 Top 5 must-knows for education loan tax deduction
 Notification No.90/2018 - Customs (N.T.) Central Board Of Indirect Taxes And Customs
 The Central Goods And Services Tax (Amendment) Bill, 2018

Budget 2009: No major tax changes?
June, 19th 2009

The Budget exercise is at its peak and there are indications that the government may not tinker with indirect tax rates, despite inflation slipping into the negative territory.

Finance Minister Pranab Mukherjee appears to be in no rush to roll back excise and service tax rate cutsall done to stimulate the economy.

The logic perhaps is that the government may be still in the wait and watch mode.

Finance Secretary Ashok Chawla said, The government had cut excise duty by an additional 2 per cent and had also lowered service tax rates by 2 per cent on February 16.

However, last month the finance ministry wrote to the PMO suggesting there should be an exit strategy to help roll back the excise and service tax rate cut.

Both these cuts are estimated to cause a revenue loss of over Rs 29,000 crore.

According to sources the government may review these rates only around September-October by when the picture on the economy is clearer.

Well, basically the government is caught in a cleft on taking a call between a negative inflation rate and an economy, which is yet to show a robust sign of revival.

From this perspective, it is but logical that the government would prefer to be cautious in tinkering any of the tax rates and this would also give industry and consumers enough cushion to completely overcome any impact of the economic slowdown.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Company Overview

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