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
Service Tax »
 I-T return filing: Income Tax offices, Ayakar Seva Kendras to remain open from March 29-31
 Top 5 money matters you must settle before March 31 From income tax returns to LTCG,
 Steep fines for missing March 31 income tax deadline
 CBEC clears some air on refunds under GST, central excise, service tax laws
 3 key tax changes for senior citizens which will come into effect from April 1, 2018
 Income tax returns (ITR) filing: Not filed returns for 2 years? Beware! Deadline nearing
 All you want to know about HRA: When you can claim and how it is calculated?
 Income Tax Saving: 6 ways to save tax without investing before March 31 tax deadline
 Unnable to file your tax return? Take help of these portals
 Do you know which 80C instruments can help you save tax and carry no future tax liability?
 E-way relief, for now, to e-commerce, courier firms sending small orders

Assocham seeks tax sops, GST in budget to revive growth
June, 03rd 2014

Industry body Assocham today pitched for early rollout of GST, revival of SEZs, a stable tax regime, slashing of tax rates and tax incentives for creation of Indian brands to be introduced in the first Union budget under Narendra Modi-led government.

The industry chamber shared its suggestions for reviving growth and boosting the manufacturing sector in a pre-budget consultation meeting with Revenue Secretary Rajiv Takru here.

"The first Union budget by the new government should reflect its tax policy direction to stimulate economic growth, contain inflation and create conducive environment for investment especially in manufacturing and infrastructure which generates large-scale employment," Assocham said. The industry chamber sought tax incentives to promote in-house R&D and create Indian brands.

"It is vital that tax incentives for creation of Indian brands be introduced in the coming budget to promote national and corporate energies to create world-class Indian brands. Such global brands can contribute increasingly to import substitution and value added exports," Assocham said.

Among other things, it sought extension of tax benefits to telecom and power sectors, simplification of tax structure, bringing down personal and corporate income tax rates, slashing of excise duty and service tax rates to 10 per cent from 12 per cent and creation of a conducive tax regime for attracting investments.

Pointing out that indirect tax has always been an effective tool to drive economic and social growth, Assocham pressed for the indirect tax structure to be replaced with Goods and Services Tax (GST) to integrate India into a single economy and provide a unified tax policy for the country. "It is now time to act and implement GST at the earliest," it said.

For revival of special economic zones (SEZs), the chamber suggested immediate withdrawal of Minimum Alternate Tax (MAT) and Dividend Distribution Tax (DDT) while restoring the SEZ policy to its present form.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

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