ASSOCHAM urges to drop tax rates for 15% mfg growth

posted by   kher (104)   2 months ago (www.myiris.com)

Government should scrap various surcharges, fringe benefit tax (FBT) and education cess imposed on the industry to achieve a growth rate of 15% in the manufacturing sector, said industry body Assocham.Indian firms currently pay taxes that are among the highest in the world, also the tax structure is prohibitive to growth in the industry.The tax rates for Indian firms including surcharge, education cess and a fringe benefit tax ranging between 4 to 6% amounts to 38%. This again is without consi