Budget Suggestion: Being a salary person I am expecting that the exemption limit should be increase from 1.8 to 3.00

Budget Comment: I am sincerely thanks for the opportunity given to me to give my view. My simple and clear views are as under: 1. To my best of knowledge, every businessman is worried to expand and to show much income due to income tax payment and harassments later. If we really want economy to be grown, Please allow the businessman to work peacefully so that they can bring more business and give the better growth to the Indian economy. (ESPECIALLY SSI UNITS) I do not stop charging any tax but too much of burden on the businessman creates more disturbance than doing his business. Make a simple way of tax for the year both in central as well as state and PLEASE PLEASE DO NOT HARESS THEM SHOWING SOME WHAT OTHER REASONS FOR THE PERSONAL BENEFITS OR GROUP OF PERSONS BENEFIT. I have practically seen and handled the income tax case wherein, random cesses cases of income tax have been sent for scrutiny, ultimately, the businessman have to pay good amount for personal purpose to avoid so many problems. If you cannot allow them to work nicely, INDIA WILL NEVER BECOME EXCELLENT BUSINESS GROWTH COUNTRY. MY HUMBLE REQUEST TO THE POLITICIANS THAT DO NOT DISTURB THEM AND ALLOW THEM TO DO BUSINESS. PLEASE DO NOT TAKE AWAY HEFTY AMOUNT WHICH THEY HAVE TO RECOVER SOMEWHAT OTHER MANNER FROM OTHER WAY OR THE COMPANY GO TO NPA. IF GOVERNMENT OFFICIALS ARE HONEST AND SINCERE, I HOPE ALL HARD WORKING BUSINESS MAN CAN BRING INDIA AS PROSPERS INDIA. Service tax has become so complicated and enhancing like any thing. If one standard rate is imposed for all and do not disturb them to file. Have a fixed amount depends upon the turnover so that, let all are free from so many complications. Regarding the banking norms, for working capital is available 20% on turnover is absurd and to be removed. Simply showing figures and getting 20% of turnover is not healthy business without seeing other parameters. So many companies are doing fake figures and bankers are passing the loan by which NPAS' are increasing. NPA systems require to be modified. Due to various parameters, the company is not able to serve the interest but it cannot be treated as NPA. As per norms, the company cannot move anywhere and entire loan is under question.

Courier Bill of Entry should be notified specifically as Bill of Entry: Courier Bill of entry should be recognized as a Bill of entry so that credit can be availed on the same.

Amendment in Rule 14 of CCR, 2004: Rule 14 creating liability to pay interest on wrongly taken or utilized cenvat credit should be amended and in clear terms it should be specified that interest will be payable only if credit is wrongly utilized. Interest should not be charged in case credit is wrongly taken i.e. were only a book entry is made.

Refund of Unutilized Cenvat Credit under Rule 5 of CCR, 2004: The refund of unutilized cenvat credit under Rule 5 of CCR in case of inputs and input services is allowed only in case of export of goods or services. It should also be allowed in case of closure of factory/business where there is no other alternative to utilize the huge credit.

Removal of Service Tax on Branded Garments:The Service Tax on branded garments was introduced in the last Budget. The result of the levy was that the entire garment industry has suffered loss as the people were less willing to pay more for branded garments. The impact on the Branded garments industry was very negative. Therefore, the levy of service tax should be removed on Branded garments.

Hope this budget will bring new opportunities for indirect tax practitioners.. with the hope of a tentative date for implementation of GST tax regime..

I think rebate facility for export should be withdrawn. In terms of Rule 18 party exports good with payment of duty. then he claims rebate, but it appears that party evades duty for enjoying the facility.