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No decision yet on imposing tax on cash transactions Das

News and Press Release - Dated:- 9-2-2017 - New Delhi, Feb 9 (PTI) The government has not taken any decision on levying a Banking Cash Transaction Tax (BCTT) on cash deals of ₹ 50,000 and above as suggested by the high- powered Chief Ministers' panel, Economic Affairs Secretary Shaktikanta Das said today. Besides, expressing hope that GDP growth would be upwards of 7 per cent next fiscal, he said that reduction in corporate tax cannot be done overnight but in phases because of fiscal c .....

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s it sought to discourage the use of physical currency. On tax rate, Das said: Two years ago the Finance Minister had announced that the corporate taxes will be reduced...but the government also has certain fiscal constraints. It is difficult to reduce the tax rates overnight to 25 per cent because the fiscal cost will be very high and he government will not be able to do justice to various other sectors of the economy. It is dependent on the financial affordability of the government without com .....

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