BJP leader Arun Jaitley on Friday advocated hike in income tax exemption limit, enhancement of excise limit for small industrial units up to Rs 5 crore and immediate implementation of the Goods and Service Tax (GST) to help expand economic activity in the country.

He said that The current income tax exemption for income of Rs 2 lakh should be gradually but significantly raised. It will be the major relief to small traders and mid-level employees and the common man.

He also said that small industrial units with turnover of Rs 1.5 crore are exempted from payment of excise duties and “in view of the depleting value of rupee and inflation, this limit should be enhanced to Rs 5 crore.

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12 responses to “Jaitley advocates hike in income tax & SSI exemption limit”

  1. Angebote says:

    Good way of explaining, and nice piece of writing to obtain information about my
    presentation topic, which i am going to present in college.

  2. ravi says:

    sir a very positive support for ssi please also consider this limit to extend to ssi engaged in private labelling of branded goods wherby there is no exemptio

  3. SUNIL says:

    DEAR SIR,
    MAY YOU CONFIRM ME.
    WHAT IS THE SSI EXEMPTION LIMIT UNDER EXCISE DUTY IN Financial YEAR 2015-016.

  4. sohanlal says:

    SSI exemption to be hilked to 5 crores with immediate effect ,SSI plays important role in growth of nation, from 10 years of congress rule the minister only helps big industry to grow , even the word SSI not even said by finance minister in his budget speech every year. SSI paid heavy VAT, PURCHASES RAW MATERIAL AFTER PAYING EXCISE AND VAT AND OTHER TAXES AND NOT CLAIMED ANY THING BACK WHERE BIG HOUSES CLAIMS HEAVY REFUNDS , IN RETURN SSI WANTS ONLY EXCISE EXEMPTION WHERE HE CAN WORK PEACE FULLY AND GROW BUT NO BODY HERE TO LISTEN , MAY OUR NEW MODI SARKAR LISTEN IT AND DO GIVE SSI EXEMPTION 5 CRORES OR MORE IN NEXT AND FIRST BUDGET LIKELY TO PRESENT IN JUNE , all ssi industry to appeal to raise their voice and request prime minister to increase SSI exemption – See more at: https://taxguru.in/income-tax/jaitley-advocates-hike-income-tax-ssi-exemption-limit.html#sthash.9bBhzlBU.dpuf

  5. SUNNY says:

    SSI exemption to be hilked to 5 crores with immediate effect ,SSI plays important role in growth of nation, from 10 years of congress rule the minister only helps big industry to grow , even the word SSI not even said by finance minister in his budget speech every year. SSI paid heavy VAT, PURCHASES RAW MATERIAL AFTER PAYING EXCISE AND VAT AND OTHER TAXES AND NOT CLAIMED ANY THING BACK WHERE BIG HOUSES CLAIMS HEAVY REFUNDS , IN RETURN SSI WANTS ONLY EXCISE EXEMPTION WHERE HE CAN WORK PEACE FULLY AND GROW BUT NO BODY HERE TO LISTEN , MAY OUR NEW MODI SARKAR LISTEN IT AND DO GIVE SSI EXEMPTION 5 CRORES OR MORE IN NEXT AND FIRST BUDGET LIKELY TO PRESENT IN JUNE , all ssi industry to appeal to raise their voice and request prime minister to increase SSI exemption

  6. SUNNY says:

    SSI EXEMPTION IS MUST BE NEEDED FROM PRIME MINISTER MODI OTHERWISE SSI WILL NOT GROW

  7. SAHIL says:

    SSI exemption to be hilked to 5 crores with immediate effect ,SSI plays important role in growth of nation, from 10 years of congress rule the minister only helps big industry to grow , even the word SSI not even said by finance minister in his budget speech every year. SSI paid heavy VAT, PURCHASES RAW MATERIAL AFTER PAYING EXCISE AND VAT AND OTHER TAXES AND NOT CLAIMED ANY THING BACK WHERE BIG HOUSES CLAIMS HEAVY REFUNDS , IN RETURN SSI WANTS ONLY EXCISE EXEMPTION WHERE HE CAN WORK PEACE FULLY AND GROW BUT NO BODY HERE TO LISTEN , MAY OUR NEW MODI SARKAR LISTEN IT AND DO GIVE SSI EXEMPTION 5 CRORES OR MORE IN NEXT AND FIRST BUDGET LIKELY TO PRESENT IN JUNE , all ssi industry to appeal to raise their voice and request prime minister to increase SSI exemption

  8. Jerish says:

    T seems like people grow up a bit as ts rly harder to get by a normal living.
    Let’s see what Mr.Modi s gonna play on this
    May d Govt not play too much on d livelihood of the unabled.

  9. Ramesh Agrawal says:

    Respected Sir
    Honorable Mr. Arun Jetli Saheb

    Please our taxation chart and working is too difficult.
    Please do need full

  10. om prakash khemka says:

    these days fiscal target achievers appear to be harassing tax payers with very wrong and funny demands through computer systems and there is no attentions to the prayers against such unjust system’s applications. like a parrot it will go on repeating his own version and wont reply appropriately.if mr. modi promises this kind of e system to remove corruption then he is going to be wrong. these system operators are so clever to manipulate the system to their advantage.mr. modi or for that matter any one must know that ‘if you are fair to your citizens,the citizens will be fair to its government.’ why people are becoming more and more vocal & angrier,its all because of the mis use of power,system and now the manipulated computer E maharaj.now people have started realising the value of their votes resulting into more than 75/85 % voting which can tilt the balance to any side .hence the leaders must not rely on surveys only but ensure people the right e govrnance also.

  11. PRADEEP MULANI says:

    AGREE IN INDIA, PERIODIC REVIEW OF THE POLICY IS VERY RARE.
    THIS SSI EXEMPTION WAS INTRODUCED IN 2003 BUT STILL THERE IS NO REVISION IN THE LIMIT EVEN TODAY IN 2014.

    ITS THE STEP REQUIRED TO BE TAKEN BY THE GOVERNMENT & NOT BY THE PUBLIC.
    HOWEVER CHAMBER OF COMMERCE ALSO NOT REPRESENTING THE SAID REVISION OF THE MONETARY LIMIT SET BY SUCH NOTIFICATION.

  12. dattatreyahg says:

    Misleading Caption. It should have been “……hike in exemption…..”

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