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Taxing times
by Hamzah on Jul 17, 2008 10:49 PM

Our FM is a maniac and obsessed with taxing everyone. He introduced service tax and increased the net to virtually everything that the so called AAM ADMI uses from utility bills to online stuff. With around 12% service tax virtually everything costing that much more. With limited source of income and virtually n o hikes in salary in most of the sector how can anyone cope with such stupid taxes? Salaried class in India got squeezed as they can't escape any taxes. He put breaks on fringe benifits too. And where is all this tax money going? Income tax is also very high.
There is hardly anythign that this FM did to boost economy. He only keeps increasing taxes. Only during last budget he increased the non taxable income that too to please junta before election year. They give subsidy on petrol on one hand and then increase the service tax net on the other. With introduction of VAT , high income taxes there was no need to increased service tax %age from 10 to 12 with the additional educational cess.

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Prices to remain high for some time: FM