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
Service Tax »
 12 ways to avoid paying more for bank services
 I-T return filing: Income Tax offices, Ayakar Seva Kendras to remain open from March 29-31
 Top 5 money matters you must settle before March 31 From income tax returns to LTCG,
 Steep fines for missing March 31 income tax deadline
 CBEC clears some air on refunds under GST, central excise, service tax laws
 3 key tax changes for senior citizens which will come into effect from April 1, 2018
 Income tax returns (ITR) filing: Not filed returns for 2 years? Beware! Deadline nearing
 All you want to know about HRA: When you can claim and how it is calculated?
 Income Tax Saving: 6 ways to save tax without investing before March 31 tax deadline
 Unnable to file your tax return? Take help of these portals
 Do you know which 80C instruments can help you save tax and carry no future tax liability?

Raise service tax exemption for small units to Rs 25 lakh, says CII
February, 29th 2012

Industry body CII has urged the government to raise service tax exemption limit for small units to Rs 25 lakh, from existing Rs 10 lakh, to maintain the growth momentum of the sector.

In its pre-budget recommendations to the Finance Ministry, CII has stated that creation of different kinds of funds are needed to promote the sector.

"A venture capital fund of Rs 10,000 crore, under public-private partnership mode, could promote first generation entrepreneurs and greenfield investments," it said.

Besides, technology fund could be instituted for incentivising climate-friendly technologies, it said.

In view of the delayed payment problem faced by small-scale units, the chamber said interest should be levied on delayed payments beyond 45 days.

The sector faces this challenge not only from private firms but also from state-owned enterprises.

The chamber favoured the implementation of 'public procurement policy' under which PSUs will give preference to micro and small enterprises (MSEs) with regard to their purchases.

The government, in November 2011, had cleared the policy which sets an annual target of 20 per cent procurement for the central government departments and PSUs from MSEs.

MSMEs, which account for 45 per cent of the country's manufacturing output and 40 per cent of exports, have also been hit by the rising input cost and interest rates.

The sector employs 60 million people in 26 million units producing over 6,000 products.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

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