The Narendra Modi government's first budget is expected to lend a healing touch to businesses bruised by 'tax terrorism' unleashed by authorities in a bid to bolster revenue during the economic downturn. Provisions in direct and indirect tax laws that place unbridled powers in the hands of tax authorities could see some checks coming in.
Under examination are provisions in the service tax law that led to arrests across the country, some restrictions on powers of Customs authorities and postponing implementation of the General Anti-Avoidance Rules. "All steps required to improve business climate are on the table...There have been concerns about certain deterrent provisions," a government official said, adding that they were looking into it.
Under examination are provisions in the service tax law that led to arrests across the country, some restrictions on powers of Customs authorities and postponing implementation of the General Anti-Avoidance Rules. "All steps required to improve business climate are on the table...There have been concerns about certain deterrent provisions," a government official said, adding that they were looking into it.
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