What I can see biggest positive reason is ……………… Govt may tinker with excise duties and service tax rates to boost economy: P Chidambaram …….Government today indicated that it may tinker with the excise duties and service tax rates in the interim budget in an apparent bid to boost economy but may not pursue key reforms legislations due to lack of political consensus. Addressing a press conference on the eve of Parliament session, Finance Minister P Chidambaram today said his vote-on-account budget to be presented in the Lok Sabha on February 17, will be short, between 12 and 18 pages, on which he would prefer a debate. We cannot propose amendments to the Income Tax Act, Customs Act or the Excise Act. But any proposal short of amending a law can be made. We can also outline vision for the future, he said. Replying to questions, he said, whatever changes are required to be made to excise rates or service tax rates without an amendment to the law are being made and will be made. We have made a couple of changes last week. We will continue to make those changes until the term of this government if they do not require Parliamentary legislation or sanction. We will have to notify the changes and place the notification in Parliament.
Posted on: Mon, 03 Feb 2014 13:54:48 +0000
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