Finance Minister Holds Meeting with Representatives of Business and Trade as Part of Pre-Budget Consultations; Calls for 9 percent Plus Growth for a Sustainable Period to achieve the Objective of Inclusive Growth; Industry Asks for Improvement in Outcome of Expenditure on Social Programmes, Widening of Tax Net, Shifting to Accrual Based Budgeting from Cash Based, Acceleration in the Disinvestment

Finance Minister Holds Meeting with Representatives of Business and Trade as Part of Pre-Budget Consultations; Calls for 9 percent Plus Growth for a Sustainable Period to achieve the Objective of Inclusive Growth; Industry Asks for Improvement in Outcome of Expenditure on Social Programmes, Widening of Tax Net, Shifting to Accrual Based Budgeting from Cash Based, Acceleration in the Disinvestment https://www.taxtmi.com/news?id=2733 Industry proposals sought amendment of the Fiscal Responsibility and Budget Management Act with a five year fiscal consolidation roadmap, lower interest rates, reinstatement of a disinvestment roadmap, widening of the service tax base via a negative list, exemption of infrastructure and SEZ units from Minimum Alternate Tax, continuation of accelerated depreciation for renewable SMEs, and reconsideration of Dividend Distribution Tax; procedural reforms urged included a shift to accrual based budgeting, tax administration strengthening through e invoicing and Direct Tax Code implementation, clearing funds trapped in litigation, and targeted export and agricultural support measures. en-us Fri, 03 Feb 2012 17:25:03 +0530 Fri, 03 Feb 2012 17:25:03 +0530 TaxTMI RSS Generator Finance Minister Holds Meeting with Representatives of Business and Trade as Part of Pre-Budget Consultations; Calls for 9 percent Plus Growth for a Sustainable Period to achieve the Objective of Inclusive Growth; Industry Asks for Improvement in Outcome of Expenditure on Social Programmes, Widening of Tax Net, Shifting to Accrual Based Budgeting from Cash Based, Acceleration in the Disinvestment https://www.taxtmi.com/news?id=2733 Industry proposals sought amendment of the Fiscal Responsibility and Budget Management Act with a five year fiscal consolidation roadmap, lower interest rates, reinstatement of a disinvestment roadmap, widening of the service tax base via a negative list, exemption of infrastructure and SEZ units from Minimum Alternate Tax, continuation of accelerated depreciation for renewable SMEs, and reconsideration of Dividend Distribution Tax; procedural reforms urged included a shift to accrual based budgeting, tax administration strengthening through e invoicing and Direct Tax Code implementation, clearing funds trapped in litigation, and targeted export and agricultural support measures. News - Fri, 03 Feb 2012 17:25:03 +0530 https://www.taxtmi.com/news?id=2733