Tax proposals a mixed bag, more could have been done: Experts

February 29, 2016 16:04

Experts have termed tax proposals in the Budget as a mixed bag without major surprises as most key measures were on expected lines.

However, they expressed doubts about government collecting the targeted higher indirect tax mop-up at Rs 20,600 crore, saying in the past too this was not achieved.

As per Khaitan & Co's Dinesh Agrawal, the government's plan to mop-up additional revenue from indirect tax may not materialise, especially from jewellery and garments sectors.

Budget 2016-17 has increased excise duty on jewellery and branded garments by 1 per cent and 2 per cent, respectively.

But past efforts to levy duty on these goods did not succeed, he noted.

Excise duty on tobacco, SUVs and luxury cars above Rs 10 lakh have also gone up.

Describing the Budget as an incremental move in the backdrop of increased global uncertainty, Girish Vanvari of KPMG India said while there is nothing new on the taxation front in general, Finance Minister Arun Jaitley could have done more.

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