Under inverted tax structure, duties on finished goods are lower than import duty on raw materials
The current corporate tax rate works out to be 30 per cent plus cess and surcharge
The current corporate tax rate works out to be 30 per cent plus cess and surcharge
High possibility of taxes going up and incentives being reduced
Also, the CCEA has given the go-ahead for listing of shares of five general insurance companies
Subsidies may affect fiscal math but income declaration scheme-2 and raids keep receipts flowing
Higher levy on dividends earned by individuals also on govt's radar
Economists said fiscal deficit should remain at 3% and govt should not deviate from fiscal roadmap
Rate could be set lower at 12 per cent, while for most others it might settle at 18 per cent
Improved tax mop-up after demonetisation may give govt enough headroom to effect these changes
Bank has favoured tax concessions in the upcoming Budget for customers
Budget announcements will come right before five states
Restructuring of tax slabs will be a big relief for the urban middle class
The Budget for 2017-18 is scheduled to be presented by the Finance Minister on February 1
The government has laid out the road map to bring down the corporate tax to 25 per cent over
Majority expect economy to slow down, but are satisfied with Modi govt's performance
The Budget should be judged on how it enhances the long-term potential of the economy
Tax Administration Reform Commission also recommended reintroduction of banking cash transaction tax
Also proposed reintroducing deduction for investment in long-term infrastructure bonds
Govt can offset any negative impact by lowering corporate tax rates, mitigating note ban impact