FBT :- Fringe Benefit Tax to be abolished

The commodity transaction tax (CTT) has also been abolished. The Goods and Services Tax (GST) will come into effect from April 01, 2010, Mukherjee said.

The corporate tax also remains unchanged.

He said additional revenue would be mobilised through disinvestment of government equity in public sector undertakings and other steps, but said that interest payment alone would be over Rs three lakh crore largely on account of the burden of stimulus packages announced last year that helped the economy grow by 6.7 per cent.

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