Industry & Economy
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Budget
Work out clear roadmap for GST implementation
One of the longest pending demands of industry is the implementation of a national-level Goods and Services Tax (GST). While the Government had announced its intent to introduce GST a couple of years ago, a clear roadmap for the same has still not been worked out. With the GST implementation deadline of 2010 nearing, we want the Government to announce an implementation roadmap including dates, how different tariffs will merge into the unified structure, what the GST rate
will be, and how the Government plans to make administration of GST less cumbersome than prevailing procedures. A simple, easy to administer GST could reduce the tax burden on the consuming public and thereby increase demand, while simultaneously boost revenues by increasing compliance.
We also would like the abolition of Fringe Benefit Tax. The last two years of FBT’s implementation has not added much to the Exchequer, but has only ended up taxing genuine business expenditure. While small steps like partly rationalising FBT have already been undertaken in previous budgets, a complete abolition of this tax would be highly beneficial.
The various steps announced in previous budgets to target rural India, in particular NREGA, have resulted in a boom in rural economy. We expect the Government to continue this rural focus by improving targeting and stepping up efficiency of delivery
V.S. Sitaram,
Chief Operating Officer, Consumer Care,
Dabur India
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