The Hindu Business Line : Saturday, April 21, 2007

TAXATION
Paving the way for GST
The move towards reduction of CST to 2 per cent in 2008, 1 per cent in 2009 and 0 per cent in 2010 is to pave way for the introduction of GST. More

Tribunal's untrammelled power to admit evidence
The powers of the Income-Tax Appellate Tribunal in dealing with appeals are expressed in the widest possible terms, and similar to the power of an appellate court under the Code of Civil Procedure. More

More room for presumptions
Finance Bill 2007 lays down that the presumptions can be made or given effect in all proceedings under the I-T Act and need not be confined to search and seizure proceedings. More

CREDIT POLICY
Monetary Policy Curtain-raiser — Anchoring price expectations
The central bank should not lose steam in its enthusiasm to tame inflation. It should say categorically that it will strive for monetary stability to facilitate orderly growth. This need not necessarily mean a zero inflation rate, but that it can con tain inflationary expectations, without setting "tolerable" targets, says A. SESHAN. More

INTERVIEW
In India, taxes add 20-25% to the cost of computers
The phasing out of CST as a precursor to GST should also give a boost to the industry and benefit customers since it could cut down the costs of sourcing and distribution significantly. More

INCOME TAX
Settlement circumscribed?
From now on, immunity from prosecution and penalty can be granted by the Settlement Commission only under direct tax laws. More

LETTERS

Rupee strength

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Union Budget 2007-08

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Economic Survey 2006-2007

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