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
Latest Expert Exchange
General »
 Government likely to withdraw tax notice on free banking services
 Senior Citizens Savings Scheme Rules, 2004
 How salaried individuals can avail full potential of I-T benefits
 The Central Board of Direct Taxes unveiled new Income Tax Return forms for assessment year 2018-19 on 5 April. Although the manner of filing returns remains the same as compared to last year, certain changes have been incorporated in the new ITR forms.
 Income Tax efiling: Must-do steps to file your IT return for FY 2017-18 on time till you get Form 16
 What are the tax filing deadlines for financial year 2017-18?
 How income tax department can penalise you for under-reporting, misreporting income
 Start your tax planning right now
 Government confident of meeting fiscal deficit, tax revenue targets
 Clarification with respect to the E-way Bill System
 Here is how you can save on taxes

FICCI: Technical textile industry deserves tax sops
December, 27th 2010

Growth-supportive sops, including tax incentives, should be given to exploit the huge potential of the country's technical textiles industry, which is in a nascent stage, the Federation of Indian Chambers of Commerce and Industry (FICCI) says.

Technical textiles, used for various applications like, geotextiles, hygiene, medical, protective clothing, automotive, industrial, agrotech and fire retardants, should be kept out of the ambit of goods and services tax (GST) for at least two years, FICCI said in its recommendation to the ministry of textiles.

The industry lobby proposed inclusion of the industry under Special Product Focus Scheme for exports, correction of inverted duty structure, fixing drawback and DEPB rates for new products.

In its recommendations to the textiles ministry for taking up the issues with the finance ministry, FICCI also proposed duty free import of speciality fibres and yarns not produced in India in addition to reduction in excise duty on man-made fibres and yarns from 10 percent to four percent.

"Technical textiles have high potential for exports and there is a need to incentivise such products and sectors under the Special Focus Product Scheme of foreign trade policy, which would make them eligible for the grant of duty credit scrips equivalent to five percent of free on board (FOB) value of exports," FICCI said in a statement Sunday.

Currently, these items are included under the focus products scheme only which entitles them for a duty scrip of two percent, it said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

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