Pre-Budget expectation 2015-16 by Mr. Rajiv Shah, Director at Asia Powercom
The upcoming budget 2015-16 is an opportunity for new government to speed up the reform process unveiled over its first eight months in office. The market growth rate has already started improving and the forecast for the next year is even better, we need a blueprint for sustained and sustainable growth over the next decade or two. Income Tax and Companies Act- both have been a major concern to all the businesses. The government also has been postponing the introduction of DTC and GST. Biggest benefit will be that multiple taxes like octroi, central sales tax, state sales tax, entry tax, license fees, turnover tax etc will no longer be present and all that will be brought under the GST. Business now will be easier and more comfortable as various hidden taxation will not be present.
