GST to become operational in 2010, says FM
During the debate on the Finance Bill, the FM indicated that the tax brackets recast may be linked to inflation.
By INDIATIMES NEWS NETWORK |
NEW DELHI: The finance minister P Chidambaram on Thursday proposed to increased the tax-GDP ratio from 11.5 per cent in FY'06-07 to 11.8 per cent in FY'08.
During the debate on the Finance Bill, the FM indicated that the tax brackets recast may be linked to inflation.
Revenue from cess & surcharge pegged at Rs 16592 cr in this fiscal as against Rs 8973 cr in 07.
Savings rate touched 32.2% in FY'06 and will keep the environment conducive for growth, the FM said.
The government is also looking at keeping tax rates stable and moderate.
FM to consider the tax incentive to hotel industry falling within Buddhist tourist circle.
The Centre will transfer Rs 2,48,844 cr to states as their share of taxes and duties.
During the debate on the Finance Bill, the FM indicated that the tax brackets recast may be linked to inflation.
Revenue from cess & surcharge pegged at Rs 16592 cr in this fiscal as against Rs 8973 cr in 07.
Savings rate touched 32.2% in FY'06 and will keep the environment conducive for growth, the FM said.
The government is also looking at keeping tax rates stable and moderate.
FM to consider the tax incentive to hotel industry falling within Buddhist tourist circle.
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The Centre will transfer Rs 2,48,844 cr to states as their share of taxes and duties.
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