Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: ACCOUNTING STANDARD :: VAT Audit :: empanelment :: articles on VAT and GST in India :: VAT RATES :: due date for vat payment :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: form 3cd
 
 
News Headlines »
 Is government tapping your phone?
 Income tax department to use analytics to look for discrepancies in bank accounts
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government

EOUs seek extension of I-T sop
December, 06th 2006
Export-oriented units (EOUs) have sought extension of the income-tax exemption under Section 10B of the Income-Tax Act beyond March 31, 2009. 
 
The export promotion council for EOUs and SEZs has, in its budget proposals, sought extension of the tax holiday for 10 consecutive assessment years. Exports from EOUs were worth Rs.37,657 crore last year. 
 
T Vasu, chairman of the Export Promotion Council for EOUs and SEZs, said supplies from domestic tariff areas to EOUs should be exempted from service tax too, as mentioned in the foreign trade policy. 
 
At present, EOUs have to pay central sales tax (CST) and then take refund. This leads to blockage of funds, delay in reimbursement, extra administrative work and increase in transaction cost. 
 
The CST should be exempted ab-initio. This has already been done in the case of SEZ units. This does not have any revenue implication as the CST is in any case refunded, Vasu said. 
 
Vasu also sought amendments in the foreign trade policy regarding procedure of Personal Carriage of Gems & Jewellery, duty free re-import of goods displayed at international exhibitions, sub-contracting abroad, import of goods by EOU and supply of services in domestic market against free foreign exchange.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions