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: list of goods taxed at 4% :: due date for vat payment :: ACCOUNTING STANDARDS :: empanelment :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: VAT Audit :: VAT RATES :: cpt :: form 3cd :: Central Excise rule to resale the machines to a new company
 
 
General »
 Advance tax payout by top cos grows just 2% in Sept quarter
 Why abolishing personal income tax may not be a good idea
 Questions about the GST cess
 How to prepare for the looming tax-extension deadline
 Income tax: Gratuity for employees raised to Rs 20 lakh; here is how you will benefit
 Haryana to set up scrutiny panel on GST benefits
 Waive certain taxes for companies in insolvency proceeding
 I-T department to appoint 7600 more tax return preparer scheme to cover entire country
 All eyes are on GST as Centre plans higher social pension
 Exporters demand total exemption from GST
 Here's what you must know to stay clear of taxman

Exporters seek IT exemption for three years from new govt
May, 18th 2009

Knitwear garment exporters today said that they should be exempted from the purview of income tax by the new Government coming up at the Centre for three years, so that it would help to reduce the prices and the 'competitiveness' could be increased.

Welcoming the results of the Lok Sabha polls, Tirupur Exporters' Association (TEA) president A Shaktivel said in a statement that knitwear exporters have been facing crises in the export market and they were efforts to cut down the costs to sustain in the global market.

He said TEA wanted a level playing field to compete with China, Vietnam and Bangla Desh, since they have increased the refund of VAT by 15 per cent to 17 per cent, as one of the supporting measures to exporters, to bail out from global crisis.

By taking into consideration of this, Duty Drawback rates and Duty Entitlement Pass Book have to be increased by five per cent, he said.    

Stating that exporters were working on thin margins and taxation of the profit left them with no oney for modernisation and expansion of manufaturing, Shaktivel said IT exemption has to be given for three years to increase competitiveness.     

The exporters should also be exempted from Fringe Benefit Tax, he said. 

In view of enormous delay in getting refund of service tax and paper work involved in making application for refund, the Government should give exemption from service tax, TEA said.    

As the interest rate was higher in India compared to the competitors, export credit should be given at seven per cent across the board without linking it with the PLR. However, in the meantime interest subvention scheme should be continued till March 31, 2012, Shaktivel said.    

An Export Development Fund should be created for MSME exporters with a minium corpus of Rs 5,000 crore, as diversification of exports has become all the more important particularly for traditional sectors of exports, he said.    

Existing scheme of Focus Market Scheme, Focus Product scheme and Market linked Focus scheme should be extended for three years for knitwear garments so that exporters could undertake countrywise diversification strategy to boost India's exports, he said.     

The government should provide diesel at international price to units/apparel park set up with the help of Government of india having captive power plant or using their own generators for exports production as power cost constituted an important component of total cost, Shaktivel said.    

The exporters have also appealed to implement the Marine discharge project for dyeing units in textile belt in Tamil Nadu, as promised in the DMK manifesto, Shaktivel said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

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