The government is in no mood to cut Vodafone any slack. In an interview to CNBC-TV18, the finance secretary RS Gujral said that the earlier tax order to Vodafone stands validated by the fin bill he added that Vodafone's liability is seen at around Rs 20000 crore.
India will implement the direct tax code (DTC) from April 1, 2013, Finance Secretary RS Gujral told CNBC-TV18 on Thursday.
The finance ministry is not looking to raise any fresh tax demand on British mobile phone group Vodafone, Finance Secretary RS Gujral said, after a proposal in the budget to amend some tax rules retrospectively from 1962 raised speculation that the USD 2.2 billion case could be reopened.
With the country's largest tax collection region failing to achieve the targeted growth so far, Finance Minister Pranab Mukherjee has asked taxmen in the city to pull up their socks.
Finance Secretary RS Gujral, an old hand at trade matters, today announced the new drawback scheme. Speaking with CNBC-TV18's Siddharth Zarabi, he made it clear that the new scheme had taken into consideration the concerns of India Inc.