The fast rise in indirect collections is a matter of concern because indirect taxes affect the poor much more than the rich. The trend of Indirect Tax collections exceeding Direct Taxes continues unabated. In the first quarter of the current financial year, Direct Tax collections amounted to Rs.2.47 lakh crore while Indirect Tax collection stood Rs.3.11 lakh crore.
The plan will have to be definitely approved by G20 heads of state and government gathering in Rome in October for the annual major summit.
It also said that the government should consider providing adequate support and handholding to the producers and should device 'Phased Manufacturing Programme' for enhancing the localisation in the rubber sector of India.
Inclusive growth and tax reforms remain key challenges to India's growth, Organisation for Economic Co-operation and Development (OECD) said on Tuesday,…
As the government inches towards rolling out of the most ambitious indirect tax reform of Goods and Services Tax (GST),…
As the government inches towards rolling out of the most ambitious indirect tax reform of Goods and Services Tax (GST),…
