July 13, 2010, Jaipur

CUTS, in association with Department of Economics, University of Rajasthan, is organising a Panel Discussion today (13 July) at the Senate Hall of the University of Rajasthan, Jaipur on Direct Taxes Code (DTC) and Goods & Services Tax (GST). The event will start at 0930 hrs.

It will be inaugurated by Dr. A. D. Sawant, Vice Chancellor, University of Rajasthan. Shri Sunil Mitra, Revenue Secretary, Government of India, will deliver the keynote address. A panel of other experts, moderated by Shri Pradeep Singh Mehta, Secretary General, CUTS, will discuss the subject, followed by interaction with the participants. A major objective of the event is to demystify the proposed changes in the Indian tax regime.

DTC and GST cover both direct and indirect taxes. They are expected to increase the tax base and create a more transparent system of economic governance of our country. While DTC, which will replace the existing Income Act of 1961 and Wealth Tax Act of 1957 envisages changes in classification of individuals, computation of capital gains, tax deductions at source, international taxation, treatment of revenue and capital receipts and other such matters, GST will do away with differential taxation at the state level and is expected to reduce the cost of doing business in India with a harmonised tax system in place.