Fair, equitable and transparent Tax regime - ASSOCHAM

By Vijay Kumar

WHILE FICCI wanted a non-adversarial tax regime, ASSOCHAM wanted a Fair, equitable and transparent Tax regime and suggested:

++ Amendments to tax laws, other than the tax rates, be delinked from Budget. This will help make these amendments through discussions or debate with other stakeholders and the public at large.

++ Withdraw retrospective amendment made by the Finance Act, 2012. This will go a long way in creating conducive business environment and improving investor confidence.

++ Make tax compliance easier by removing separate levies of surcharge, education cess, etc.

++ Provide tax relief to corporates for mandatory CSR spend.

++ In order to boost infrastructure development, treat infrastructure projects, particularly water, roads, power at par with SEZ projects to extend all applicable exemptions and tax benefits.

++ Simplify indirect taxation structure, especially excise duty (2 slab rates) and customs duty (3 slab rates) to facilitate GST implementation.

Is the FM listening?