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 STANDARDS :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: articles on VAT and GST in India :: form 3cd :: list of goods taxed at 4% :: due date for vat payment :: VAT RATES :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit
 
 
News Headlines »
 Income Tax saving investments: Top 5 options available for high-income individuals
 How to use zero tax rule on long term capital gains on stocks
 GST Returns - Furnishing details of inward supplies
 5 ways to maximise you income tax return
 Income-tax (2nd Amendment) Rules, 2017
 Soon, Faster PAN, An App For Filing Tax Returns
 Changes in income tax return filing process
 New Income Tax Rates And Deductions Applicable From April 1, 2017
 Tax and transparencya
 No decision yet on imposing tax on cash transactions
  Mentioning of Minor Head Code for accounting of Refund

Govt to extend DEPB scheme till March, 2008
March, 28th 2007

Having failed to find a replacement for the Duty Entitlement Pass Book (DEPB) scheme, the government is planning to extend the scheme till March 2008 and constitute one more committee to look for an alternative.

A joint task force for finding a replacement to the popular duty reimbursement scheme would go through entire gamut of taxes levied on exports at the central and state levels. It will work out a new tax refund scheme that covers all the taxes which the existing scheme was not able to capture for refund. Constitution of the new committee follows recommendations of a committee headed by Planning Commission member Anwal-ul Hoda, which suggested extension of DEPB for three years.

Instead of extending DEPB for three years, the government wants to opt for a yearly revision. The issue of extension will be taken to Cabinet Committee on Economic Affairs (CCEA) for approval, government sources said. The Hoda committee made the recommendations for extension of DEPB after it failed to achieve a consensus among ministries on replacement of the scheme. Sources said the finance ministry was opposed to the refund of state-level taxes through exporters from Centres coffers.

The joint task force would also ensure that the new scheme replacing DEPB is WTO compliant. The revenue foregone on account of DEPB is expected to touch Rs 4,873 crore this fiscal, down from Rs 5,650 crore in 2005-06.

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

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