Tax dept rethinking on inclusion of excise duty in GST
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SUKUHOPES
Aug 7, 2008, 12:29:35 AM8/7/08
to Kences1
NEW DELHI - The Central Board of Excise and Customs is rethinking on
including excise duty in the proposed Goods and Services Tax, The
Financial Express reported today.
GST, which is likely to come into effect from Apr 1, 2010, is an
omnibus levy that would subsume state and central indirect taxes,
excise duty, service tax, sales tax and motor vehicle tax.
The tax department is rethinking on inclusion of excise duty in GST,
as
it wants to keep the flexibility to use the duty as a fiscal tool, the
report
said.
Excise duty is often used by the government to promote certain sectors
or regions to promote growth.
N.Sukumar
Research Analyst
including excise duty in the proposed Goods and Services Tax, The
Financial Express reported today.
GST, which is likely to come into effect from Apr 1, 2010, is an
omnibus levy that would subsume state and central indirect taxes,
excise duty, service tax, sales tax and motor vehicle tax.
The tax department is rethinking on inclusion of excise duty in GST,
as
it wants to keep the flexibility to use the duty as a fiscal tool, the
report
said.
Excise duty is often used by the government to promote certain sectors
or regions to promote growth.
N.Sukumar
Research Analyst
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