Budget wishlist- Mr Shaily Grover, MD, Osim India

 

Good Afternoon,

 

I am forwarding the Budget Wish List of Mr. Shaily Grover,  MD, Osim India,  for the 'Budget Line' column along with his photograph.

 

Hope this can be incorporated in your esteemed publication.

 

 

 

 

 

> 1.The most important thing is rationalisation of taxes. This is one of the
> most serious impediments to growth and us being globally competitive.
>
> 2.GST is the way forward and should be implemented right away. If the will
> is there the implementation will be fast and smooth otherwise preparations
> for the same are never ending.
>
> 3.Retail FDI should be allowed and retail should be treated as industry and
> it should be given some relief and concessions.
> -Retail is the culmination point of all manufacturing and service process.
> -It is the interface between business community and consumers.
> -Organised Retails yields higher indirect and direct tax collections will
> also grow.
> -Service tax should be removed on rent and other services for retailers.
> They should be allowed refund of unutilised service credits.
>
> 4.FBT should be withdrawn. These days employees travel for company etc
> cannot construe as benifits to employees etc. On the controry you need to
> incentivise them and not tax them. These are routinue business expense and
> by no chance a benifit. Today date and age you are forced to incurr those
> expense and on top of this putting FBT hurts a lot.
>
> 5.This budget should also take a view of stabilising rupee dollar prices.
> For SMEs it is a big issue as due to lack of exposure and knowledge they
> need to investa  lot of time and energy to hegde and most of the time
> causing losses.
>
> 6. Income tax exemption uptill 3 lakhs should be there especially for metro
> residents where life is very expensive.
>
> 7. For corporate a 5% reduction in income tax will give a very positive
> movement .
>
> 8. Removal of dividend tax should be done as once the profits of company has
> been taxed , then why should dividend tax be paid . This is an anamoly and
> is actually double taxation.
>
> 9. The bugdet should create and send positive sentiments which is needed in
> ailing markets or economy.
>
> The above are requests for the respectable finance minister.

 

 

 

Thank you

Regards

Moumita
Image Manager
Mindpie
A- 28, II Floor, Hauz Khas
New Delhi 16
E mail  - moumita.mindpie@gmail.com
Tel : 91 11 41656296
Cell : 9811700464