PHDCCI organises Post Budget Interaction

     Raipur, March 11, 2011: PHD Chamber of Commerce & Industry has organised a Post-Budget Interactive Session on Implication of Union Budget 2011, here in Raipur.

     Addressing the select gathering Chairman of Chhattisgarh Committee of PHD Chamber Pradeep Tandon said Budget is balanced, growth-oriented and forward looking.       

     However, the input cost inflation was hitting the industry hard and rising cost of raw materials and industrial input was a major concern, Tandon said.

     The cut in the surcharges on Corporate tax from 7.5 per cent to 5 per cent would reduce the tax burden on Corporate, but the impact would be marginal. 

     Expressing apprehension that the built up of food prices may spill over to the manufacturing sector, he said companies are facing demands of high salaries and wages. 

     Chief Guest Commissioner Central Excise & Service Tax, Raipur Pramod Kumar  said senior officers of the department were holding series of interactions with all stake holders, including the trade and industry, in order to refine the design and concept of the proposed GST.

     According to Chartered Accountant R.B. Doshi said the personal income tax exemption limit was nominal, hardly Rs.2000 relief can be visible.

     Company Secretary Brijesh Agrawal said Service Tax has became more complicated rather than simplified, in this Budget. 

     President of All India Company Secretaries Association, New Delhi Anil Morarka also attended the meeting.
     Vice President and Company Secretary of Hira Group of Companies, Y C  Rao said for first time, 1per cent and 5 per cent duty has been imposed, for the first time, on coal which would increase the coal price. Simultaneously, increase in duties on cement would also enhance the rate of cement. 

     Sumit Dubey thanked the gathering on behalf of the PHD Chamber.