Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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
 
 
 
 
Popular Search: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: VAT Audit :: form 3cd :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: empanelment :: due date for vat payment :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS
 
 
« News Headlines »
 Section 35 of the Income-tax Act?
 Notification regarding extension of last date w.r.t submission of closing stock by dealer.
 Integrated Goods and Services Tax (IGST) Rules, 2017 (As on 15.11.2017)
 Central Goods and Services Tax (CGST) Rules,2017 (As on 15.11.2017)
  101st Constitution Amendment Act, 2016
 Pr. Commissioner Of Income Tax-6 Vs. Mccain Foods India Pvt. Ltd.
 Section 10 of the Income-tax Act, 1961
 Income tax returns filing: No tax on gift received from relatives in form of cash
 Income tax returns (ITR): Here is why you need to pay higher tax on other incomes
 GST Update On Issuance Of Debit Notes And Credit Notes
 How Mutual Fund Investments Can Help Save Income Tax

Deficit won't be higher than 2.5% of GDP: FM
July, 02nd 2008

Finance minister P Chidambaram said on Tuesday the countrys fiscal deficit, which rose to more than half the Budget estimates for the year in just two months, would be contained within the Budget estimate of 2.5% of GDP.

Fiscal deficit for April-May touched Rs 73,201 crore, 54.9% of the estimated fiscal deficit of Rs 1,33,287 crore for the fiscal. At the end of the year, we will do better than the Budget estimates, Mr Chidambaram told reporters when asked about the sharp rise in fiscal deficit in April-May as per the latest figures.

The government allocates the bulk of its expenditure early in each financial year, but tax payments pick up later.

During the first two months, revenue deficit stood at Rs 67,731 crore, against the budget estimates of Rs 55,184 crore for the year. Budget 2008 had estimated that fiscal deficit would come down from 2.8% of GDP in the previous fiscal to 2.5% in the current fiscal.

The farm loan waiver for over four crore farmers and the expected salary raises for government employees too are pressurising the governments coffers. The government is also foregoing revenue by slashing duties on imported fuel and edible oils to tame inflation, now ruling at a 13-year high of nearly 11.5%, denying the finance minister the much-needed revenue.

The government has also tightened its belt to lower spending. Mr Chidambaram said he was confident of robust economic growth, which would raise tax payments further.

The country has recorded splendid growth in the last few years. Our tax-to-GDP ratio has gone up from 9.2% in 2003-04 to 12.8% in 2007-08, and it is expected to be more than 13% this fiscal, he said earlier at the diamond jubilee function of the Institute of Chartered Accountants of India.

The minister also sought suggestions from the accounting regulator for widening the tax base and to ensure better compliance. The minister added that the government was committed to implementing the goods and services tax from April 1, 2010.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

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