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: TDS :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: cpt :: VAT Audit :: due date for vat payment :: ACCOUNTING STANDARDS :: form 3cd :: list of goods taxed at 4% :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT
« Service Tax »
 Goods and Services Tax: There should not be more than three grades of rates, says Chidambaram
 Chidambaram says there cannot be multiple tax slabs in GST
 Service tax officials transferred for favouring realtor
 GST, a challenge and opportunity for accounting professionals’
 Service Tax On Hotels And Restaurants – Recent Delhi High Court Judgment
 GST Council discusses 4-tier tax rate, cess on demerit goods
 Why you shouldn’t miss these three simple tax saving options beyond Section 80C
 Determination of value for transactions between the Related parties under GST Laws.
 Higher collections can offset GST losses
 GST to subsume over a dozen Central, State taxes
 Incidence of indirect taxes won't go up under GST

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 2016 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