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Tax structure in India
Message
 
To
31/10/2007 07:27:12
Metin Emre
Ozcom Bilgisayar Ltd.
Istanbul, Turkey
General information
Forum:
Politics
Category:
Other
Miscellaneous
Thread ID:
01264982
Message ID:
01265305
Views:
12
Hi Metin

>We have a special process tax. No one knows what that mean... :)
>
>We pay special telecommunication tax with GSM. We can understand that. But we cannot understand that; why we pay for VAT for that tax... :S
>
>You see. We pay tax for tax... If any smart officer thought about VAT for VAT that could be cause an endless loop... :)

That is the problem too here, complicated tax and tax on tax, for eg. Education Cess and Secondary & Higher Education Cess are 2% and 1% resp. of the Central Govt. Taxes like Central Excise, Income Tax, Central Sales Tax.

So for eg. Central Excise is 16%, Edu. Cess is 2% of 16% and S&H Edu. Cess is 1% of 16%. It is good the govt. has decided to do something about education of the poor class of people (it will not be taken advantage of by my children, I just pay and who really benefits from these taxes is a different matter altogether). But if they want, take Cen. Excise of 17%, 18% and distribute the additional revenue to whichever account they have internally, instead of complicating the calculations. IT is 30% + 2% (of 30%) EDC + 1% (of 30%) SHEDC

But then as members from different countries are agreeing to similar no. of taxes, it is soothing to know we are not alone :)
Regards
Bhavbhuti
___________________________________________
Softwares for Indian Businesses at:
http://venussoftop.tripod.com
___________________________________________
venussoftop@gmail.com
___________________________________________
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