We welcome the Hon. President of India Mr. Pranab Mukherjee’s address to the Parliament indicating the intention of the Government to have Non-adversarial Tax Regime i.e. a spirit of co-operation and mutually satisfying resolution to resolve the issues by simplifying the taxation system thus enabling ease of doing business. The move reflects clarity of the Government to boost investment, manufacturing, export and employment, said Mr. Vijay Kalantri, President, All India Association of Industries (AIAI).
AIAI feels that the Government should do away with the regime of criminal and raid proceedings in every case in the taxation arena i.e. Income Tax, Excise, Customs Act and the Companies Act 2013, which not only deters conduct of business but also de-motivates investors. Such system also does not exist in progressive countries.
AIAI strongly feels that the Government should do away with all provisions of Criminality, Raids and Prosecution in every act/clause, which adversely impact the growth of business since the Governments intention is to collect revenue and not to prosecute the entrepreneur. Such acts should only be imposed on willful and habitual defaulter rather than making it a general practice.
AIAI also welcomes the Government’s intention to bring down inflation, doing away with black marketing, corruption and setting up IITs and IIMs in every state which will not only develop skilled labour, but also boost our competitiveness, Mr. Kalantri said.
June 09, 2014