Chief economic advisor Arvind Subramanian has recommended a standard GST rate of 17-18% for all services, higher than the 14.5% tax on services applicable now. He also recommended a 2-6% tax on precious metals.
To soften the blow to the industry from the phasing out of corporate tax incentives, the government is considering some relaxations in the schedule of withdrawal of the sops for select industrial segments as well as giving sp
The declining trend in the income tax department’s estimates of alleged income suppression by multinational companies would get buttressed, thanks to the new set of transfer pricing (TP) rules issued earlier this week.
I don’t think much would survive in the Castleton case now because the government has accepted our MAT-on-FPI report. They (Castleton) claim that they don’t have a PE or a place of business in India, says Justice AP Shah.
Justice AP Shah, in an extensive conversation with Santosh Tiwari and Gireesh Chandra Prasad, said that the government appears to be serious now to put in place a stable and predictable tax regime in the country.