Lower tax rates possible when all pays dues: Goyal
"I wonder what revenue neutral rate it would be, if we will put every thing in zero or low rates. Do we have to make profit at the cost of the nation," the minister said.
The government can lower tax rates if people pay their dues sincerely, Union Power Minister Piyush Goyal said.
"We can lower tax rates of GST, income tax and others if everybody pays taxes," Goyal said while addressing businesses at the 'EY Entrepreneur of the Year Awards' here.
On the demand of businesses to lower tax rates, he said industry chambers ask for zero or five per cent tax the proposed GST regime.
"I wonder what revenue neutral rate it would be, if we will put every thing in zero or low rates. Do we have to make profit at the cost of the nation," the minister said.
Goyal also appealed to the charter accountants to suggest their clients to pay their taxes.
Talking about the wind power tariff touching an all-time low of Rs 3.46 per unit without sops like accelerated depreciation, generation-based incentives and tax holidays, he said this auction was just for 1,000 MW and many more will come.
He also rubbished the advisory issued by an industry body to bidders to avoid bold bids in the wind power auction.
Speaking at the function, Commerce Minister Nirmala Sitharaman said the government wants the businesses and investors to feel at home so that they can create a vibrancy in the economy and expand their business activities.
"We are ready to receive your thoughts on how the government can move forward and what all we can do," she said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
09:59 AM IST