Union Commerce and Industries Minister Kamal Nath on Friday said he disagreed with the finance ministry on the controversial fringe benefit tax, saying the tax laws should be made simpler.
"In this issue (FBT), I am on your side," Kamal Nath said, when an industry delegate asked the minister to use his good offices to convince the finance minister to withdraw the tax, introduced in the last Budget.
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"Revenue generation is important, I agree. But the mindset to collect the maximum through complex means is not right in my opinion," the minister said.
Kamal Nath said the finance ministry should be prepared for two-three per cent delinquency.
"Tax laws should be made very easy to collect," he said, adding he would convey the industry's mood to the finance minister.
Asked if India was "shining for all" under the United Progressive Alliance regime, the minister said he did not want to commit the same mistake made by others.
"We want all the cogs in the economy such as foreign investment, domestic investment, manufacturing and agriculture to lead us to a seven per cent growth."
"We don't want to commit the same mistake," Kamal Nath said, referring to National Democratic Alliance's election slogan 'India Shining'.