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: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: TDS :: VAT Audit :: articles on VAT and GST in India :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: cpt :: list of goods taxed at 4% :: form 3cd :: empanelment
 
 
Service Tax »
 IT infrastructure firm of GST under scrutiny for tax evasion
 GST council OKs draft law on relief to states
 GST Network gets notice for avoiding service tax
 GSTN contract may attract tax
 GST Council may discuss tax rate on gold at Udaipur meet
 Govt may rework indirect tax estimates mid-way after GST
 GST Council meeting: States allowed to tweak taxpayer division after consulting Centre
 Government may rework indirect tax maths mid-way after GST entry
 Govt may rework indirect tax mid-way after GST entry
 GST rollout will reduce disparity among states
 GST: E-tailers oppose tax laws

ACMA stresses on early implementation of GST
January, 28th 2016

Automotive Component Manufacturers Association (ACMA), the apex body for the Indian auto component industry, has urged the government for early implementation of Goods and Services Tax (GST).

As part of its recommendations for the upcoming Budget, ACMA also sought government's support in achieving $200 billion turnover from existing $38.5 billion as stated in the Automotive Mission Plan 2026.

"We expect the forthcoming Budget to lead to creation of a favourable and stable policy environment to enable growth and development of the domestic auto sector," ACMA President Arvind Balaji today said in a statement.

ACMA also urged the government for early implementation of GST and phasing out Central Sales Tax (CST).

"There is an urgent need to reduce multiplicity and complexity of applicable taxes through early implementation of GST," it said.

The industry body said that many companies are not getting adequate duty drawback benefits, as the focus is to progressively reduce the product weight.

ACMA therefore has recommended that the weight cap for engineering products should be waived off.

The association also demanded allowing input credit on diesel.

"Due to power shortage, manufacturers have to resort to generating their own power through gen-sets thus increasing the cost of production. ACMA has recommended that such manufacturers be allowed to avail input credit on diesel procured for internal power generation," it said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Achievements

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