Finance Minister Pranab Mukherjee has increased the service tax to 12 per cent from 10 per cent and taken a big step towards the implementation of the Goods and Services Tax by introducing, for the

The Union Budget has warned against depleting revenue resources for the Centre on the back of the rising devolution of its finances to state governments. Expenditure will remain constrained next year

I think the Union Budget has laid down a path for fiscal discipline. By doing this, the government has bought time - of almost one year - as the figures will come out next year. There could be so many

Allocation for CST compensation a dampner Sushil kumar Modi Bihar This Budget is very disappointing for the states. Despite our letter to the finance minister to provide full Central Sales Tax (CST)

Finance minister Pranab Mukherjee has proposed that pan masala, gutkha, chewing tobacco, unmanufactured tobacco and zarda-scented tobacco in pouches are to be leviable for excise duty under the

The government has projected a 32 per cent jump in non-tax revenue receipts at Rs 1,64,614 crore in 2012-13, against the 2011-12 revised estimate of Rs 1,24,737 crore, thanks largely to the auction of

Reiterating the need to contain subsidies through better targeting, Finance Minister Pranab Mukherjee said the government will revisit subsidies that are incompatible with macroeconomic fundamentals

The Budget is a mixed bag. There are a couple of things that are good and others which are not so good. On the positive side, the finance minister has increased allocation for tax-free bonds from Rs

"Bold, rational and courageous. Can't be applied across the board but certainly in segments like agriculture, infrastructure credit, education and skill development. No cause to sulk!" A

DIRECT TAXES I-T exemption limit lowered The exemption limit for the general category of individual taxpayers is proposed to be enhanced from Rs 1,80,000 to Rs 2,00,000, giving a tax relief of Rs