FM may leave MAT unchanged, up excise duty: Tax experts

Discussing the possible measures Finance Minister Pranab Mukherjee is likely to announce in Union Budget 2011 are Bobby Parikh, Managing Partner at BMR & Associates, Dinesh Kanabar, Deputy CEO and Chairman of Tax at KPMG and Corporate Tax lawyer HP Ranina in an exclusive interview CNBC-TV18.

Parikh said he expects a bump up in excise duty. On the DTC front, Parikh feels that the Finance Minister would affirm that it's going to happen. "There have been some rumours and conjecture that perhaps it might be delayed beyond April 2012 and it might be useful for him to make emphatic statements to dispel any such thoughts." Kanabar too said he does not see any significant change in DTC. Meanwhile, HP Ranina said he doubts the FM would increase MAT rates any further.  "I think the main focus of the Finance Minister (FM) in this year's budget will be to take care of the inflationary problems, which the common man has been facing," he said. Below is a verbatim transcript of their exclusive interview with CNBC-TV18's Udayan Mukherjee and Mitali Mukherjee. Also watch the accompanying videos. Q: Any major things expected at all in the GST and DTC outlining, can you give out firm dates for implementation? Can you say anything in addition to what the market knows already? Parikh: What FM can do is that he can just give an affirmation that the DTC is going to happen. There have been some rumours and conjecture that perhaps it might be delayed beyond April 2012. It might be useful for him to make emphatic statements to dispel any such thoughts. As far as GST is concerned, whatever he can do to provide some level of greater conviction that the process will not get derailed and that they will do whatever it takes to make it happen by April