By | The Indian Express In mid-1995, as P J Nayak, joint secretary in the Finance Ministry in charge of the capital markets and overseas borrowings divisions, neared the end of his tenure, Finance Secretary Montek Singh Ahluwalia suggested that he ... Yahoo! India, 1 week ago
The challenge is to convince productive sectors that a lower general rate would benefit all and remove the prevalent system of favours targeted towards narrow industry and service sector groups, notes Parthasarathi Shome. A sensible tax policy announcement by the finance minister in the last Union Budget was his intention to reduce the headline corporate tax (CIT) rate to 25 per cent. It would be decreased in phases pari passu with identification of alternate revenue sources. Subsequently on ...Rediff.com, 1 month ago
There is much work to be done to design a good GST, notes Parthasarathi Shome. In the last mile, many essential components of a robust goods and services tax India is rushing towards a so-termed GST replacing service tax and excises (or CENVAT) at the Centre and VAT and small consumption taxes of the states. In a decade-long process of replacement, major successes were occurring to meaningfully consolidate the nation’s domestic consumption tax structure. But in the last mile, many ...Rediff.com, 2 months ago
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