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The Government initiated fiscal reforms in tune with the change in the overall economic scenario. Direct taxes, which remain a popular mode for the Government for collecting taxes, have shown buoyancy in the recent years. With the changing global and domestic environment which has ushered in newer transactions as well as greater movement of persons, the taxation laws have to keep pace with the unanticipated issues and problems of interpretation. International taxation is also assuming greater significance in the Indian context and affecting policies.
The Direct Taxes Committee of the Chamber works in close co-ordination with the Income Tax Department for encouraging a tax regime that is just, simple, rational and fair and at the same time helps achieve the revenue/fiscal objective of the Government.
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To proactively present before the Government the views of the industry on direct tax policies. This is done through active involvement in the budgetary exercise of the Government.
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To suggest measures to the Government for widening the tax base through rationalisation of taxes.
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To encourage industry to follow voluntary tax compliance.
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To have a close and regular liaison with the concerned Government Departments. To study, and where required recommend amendments in, the existing and proposed taxation laws and procedures.
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To disseminate information to the industry about new developments and Government's thinking and philosophy relating to direct taxes.
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To organise informative and interactive events on topical issues affecting the industry and provide a platform to raise issues and seek clarifications. The events organised in the recent past cover wide ranging topics such as Tax Deduction at Source, Search and Seizures, Taxation of Expatriates, Transfer Pricing, Rules Relating to Perquisities, E-Commerce, Double Taxation Avoidance Treaties, Pre-Budget and Post Budget issues etc.
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Shalini Mathur Joint Secretary PHD Chamber of Commerce and Industry, PHD House, 4/2 Siri Institutional Area, August Kranti Marg, New Delhi 110 016 Tel.: 26863801-4, Fax: 26863135, 26568392
E-Mail: shalini@phdccimail.com,
phdcci@phdccimail.com
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The Indirect Taxes contributes around 62% of the total tax revenue and plays a very vital role in nation building. Central Excise revenue alone contributes around 39% of the total tax revenue. In the recent years the Indirect Tax system has undergone incredible reforms.
The object of the Indirect Taxes Committee is to facilitate industry and trade to reduce transaction costs associated with enforcement and administration while ensuring compliance with laws. The Committee make suggestions to Government with an intention to reduce cost of doing business by making suggestions on rationalization and simplification of rules, rationalization of slab rates to reduce classification disputes, introduction of self assessment procedures etc. The Committee makes suggestions for optimization of revenue through voluntary compliance.
The Indirect Taxes Committee of the Chamber takes initiatives to have fast, efficient and responsive tax administration. To have transparent, hassle free and equitious system of tax collection through constant reforms and technology upgradation.
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To work closely with Government for stimulating growth of industry and trade and improve voluntary tax compliance.
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Analysis and preparation of synopsis and give considered views on matters relating to Central Excise, Customs, CENVAT, Service Tax and VAT.
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Networking with policy makers and other Government officials so that more convenient and user friendly solutions are incorporated under Central Excise, Customs and Service Tax.
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To make the Indirect Tax system under which interface between the assessees and the department is minimum. Also to promote intensive use of information technology to facilitate the taxpayers and reducing the response time of the department to minimum.
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To disseminate information to the industry and play a proactive role.
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To organize Seminars, Round Table Discussions, Workshops and Interactive Meets with CBEC officials and professionals on various topical issues. Few programmes organized under the Indirect Taxes Committee includes;- Pre & Post Budget meetings, Meetings on Service Tax and Value Added Tax (VAT), Valuation and Procedural issues under Customs, Central Excise, Service Tax and VAT.
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Mr. T G Keswani Secretary Indirect Taxes Committee PHD Chamber of Commerce and Industry, PHD House, 4/2 Siri Institutional Area, August Kranti Marg, New Delhi 110 016 Tel.: 26863801-4, Fax: 26863135, 26568392
E-Mail: tgkeswani@phdccimail.com,
phdcci@phdccimail.com
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