Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: cpt :: form 3cd :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: VAT RATES :: VAT Audit :: TDS :: due date for vat payment :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
« News Headlines »
 How to save income tax? Best tips for young earners
 Forgot to verify your income tax return? Here's help
 Notification of Government e-Marketplace (GeM) under section 138 of the Income-tax Act
 Income tax returns can be filed even if you missed deadline
 What is the difference between a tax return and a tax refund?
 Improving tax compliance in India
 How to invest in the new LTCG tax regime
 5 Tips to help you save tax
 Why to file income tax return?
  Income Tax For Individuals – Assessment Year 2019–20
 RBI mentions 5 tax implications on investments and savings

Govt hints at big tax sops for key export sectors
December, 22nd 2006

In the run-up to Budget 2006-07, the government on Thursday hinted at major concessions for export sectors with high employment-generating potential.

Some lenient but bold steps are likely to be taken for key export sectors, Finance minister P Chidambaram said after a meeting with various export promotion councils here. It is expected that sectors like leather, textiles and garments, and gems and jewellery, will be the ones to get Budget benefits. Chidambaram also said the economy would grow close to 9% this year and that it could record even higher growth in the next few years if we remain truly committed to the path we have taken.
 
This was the first ever pre-Budget and pre-Foreign Trade Policy meeting of exporters convened by commerce and industry minister Kamal Nath with Chidambaram at the helm. Nath said since the countrys capital goods industry was in its infancy, it needed protection.

He also underlined the need to balance exporters requirements with the interests of the domestic industry to facilitate growth of both the sectors. Speaking on the occasion, Chidambaram said the country could live with the current account deficit and that it was under control as there was a fair increase in the flow of capital and other invisibles like remittances by Indians abroad. He said the widening trade deficit was not a cause for concern as foreign exchange inflows from other sources were balancing it out. Chidambaram said, I want importers to import what they want and our exporters to export as much as they can. On their part, exporters asked the finance minister for central sales tax exemption and urged the the government to meet its commitment of not taxing exports in the coming Budget.

Sop Opera Exporters seek:
Cut in customs duty on import of capital goods from 5% to 0%
Continuance of Duty Entitlement Passbook Scheme and Textile Upgradation Fund Scheme
 
They also demanded that the government cut customs duty on imports of capital goods from 5% to 0% under the Export Promotion Credit Guarantee Scheme.

Exporters also demanded a rebate on the service tax and exemption from the fringe benefit tax on sales promotion services. They also urged the government to ensure that the Duty Entitlement Passbook Scheme and the Textile Upgradation Fund Scheme be continued. Besides, they demanded the removal or rationalisation of levies that eroded the global competitiveness of Indian exports.

Nath suggested that all export promotion councils should undertake in-depth studies of their prospective competitors as part of a long-term strategy to stay ahead in the race for a larger share of world trade.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

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