Page 7 - Indirect Tax

Govt's cost-cutting drive: Proposal to merge CBDT, CBIC back on the table

Freezing hiring, curtailing allowances, and merging of job categories also on the cards

Making GST work

Only a simpler tax structure will increase compliance

Tax-burden on India's GDP to rise further, hitting consumption and savings

In FY19, indirect taxes (net of subsidies) accounted for nearly 10 per cent of GDP up from 9.3 per cent a year ago and low of 6.1 per cent in FY10

Treat taxpayers with empathy amid Coronavirus: CBIC chairman to officers

Covid lockdown has acted as a double whammy for the already struggling economy and slowing revenues

SBI says reducing indirect taxes, and not rate cuts, can lift consumption

It said a rate cut is unlikely to work in isolation as bank transmission of RBI's rate cut has been slow

From vivad to samvad, to gain vishwas

The culture of 'collect first, correct later' needs to change

New GST filing format, e-invoicing to help in reporting for taxes: GSTN CEO

There is a need for standard to ensure complete interoperability, he said

Indirect tax: Few but well-justified changes in Budget 2020

Customs duties and exemptions need to be streamlined

Dockets the Supreme Court forgot

Judges are compelled to decide cases applying laws whose validity is under challenge

Re-think GST: No economy can afford to persist with a failed tax experiment

Let's pretend no more that the system isn't broken. The Centre needs to break heads in the GST Council and work out new slabs and rates (the fewer the better) and make a fresh start, writes T N Ninan

Fixing the GST

Fundamental improvements to the flawed structure needed

Govt orders probe into 'unknown' imports, revenue dept to provide details

India's overall imports stood at $514 billion in 2018-19, up by 11 per cent from the previous year

Budget 2020: FinMin seeks industry inputs on direct, indirect tax changes

'Views may be supplemented and justified by relevant statistical information about the production, prices, revenue implication of the changes suggested'

Amid slowing economy, corporation tax mop-up contracts 1% in Apr-Nov

The collection numbers are expected to worsen further once the impact of the corporation tax rate cuts becomes visible in the third advance tax collection instalment due on December 15

GST system redesign neither desirable nor feasible, say tax experts

Experts want the GST Council to prepare a detailed road map for the next two-three years to provide an environment of tax certainty for businesses

High indirect taxes are hurting exports, Make in India initiative: Experts

Exports of goods and services accounted for just 6.9 per cent of India's GDP in 1990-91 and they grew by record high of 25.4 per cent in FY14

Need to reduce centrally sponsored schemes to improve spending: N K Singh

Revenue buoyancy continues to be weak in the area of indirect tax, said Singh

Indirect tax mop-up at Rs 6.12 trn in Apr-Nov; FY19 target at Rs 11.16 trn

Minister of State for Finance Shiv Pratap Shukla said the actual indirect tax collection for 2018-19 would be known after the end of the financial year

Simplicity as seen by tax officials

The Central Board of Indirect Taxes and Customs has said Integrated Goods and Services Tax will not be payable on in-bond sales of goods in a bonded warehouse

Centre needs another Rs 4.2 trillion to meet FY18 indirect tax target

Now, of the Rs 1.9 trillion through IGST, data from the controller general of accounts shows Rs 1.38 trillion was sitting on the government book at the end of November