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: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: empanelment :: articles on VAT and GST in India :: TDS :: VAT Audit :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: list of goods taxed at 4% :: VAT RATES
 
 
« News Headlines »
 Make your inventory and invoicing software GST Ready from Binarysoft
 Filing income-tax returns gets simpler for salaried persons
 Ten rules you must follow while filing income tax returns
 Reforming the income tax tribunal
 How the new system might impact consumers and businesses
 10 ways you get benefited from filing your tax return
 Returns under CGST Act,2017 with Rules
 Ten facts to know about filing income tax return this year
 The Ten Commandments of Tax Filing
 How to claim income tax refund
 How to time your buys to have best of two tax regimes

No more tax cuts to tackle: Pranab
September, 09th 2009

The government is not considering any further tax cuts to tackle the impact of drought, finance minister Pranab Mukherjee said while speaking at the annual meeting of chief commissioners and directors general of Central Board of Excise and Customs (CBEC) in the Capital on Tuesday.

The finance minister expressed concern at the negative growth of indirect tax receipts. He said up to July 2009 in the current financial year, indirect tax receipts had shown a negative growth of 28% compared to the last year. No doubt, this trend reflects the overall slowdown of the economy and the effect of stimulus measures through reduction of excise duty rate, the minister said.

But despite a negative growth, the finance minister said he was hopeful of meeting the indirect tax target of Rs 270,000 crore. By the trend we have noticed in the first two quarters, it indicates things will improve by the third quarter, Mukherjee said.

Appreciating the role of Central Board of Excise and Customs, the finance minister said, The tax base of indirect taxes has grown steadily and as a share of gross domestic product has gone up from 9.2% in 2003-04 to 12.6% in 2007-08. He promised to revert to the path of fiscal consolidation at the earliest.

Mukherjee said the 10% cut in non-plan expenditure in 2009-10 by all ministries and departments a directive for which was issued by the finance ministry on Monday would help ensure availability of resources to meet critical development schemes.

On meeting the deadline of April 1, 2010 for implementation of Goods and Services Tax (GST), the finance minister said not all states were on board as of now. There are differences and the Centre is working in close coordination with the empowered group of state finance ministers to reach a consensus, he said. The next meeting of state finance ministers has been fixed for September 16.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 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