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 :: articles on VAT and GST in India :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: TDS :: due date for vat payment :: empanelment :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd
 
 
« Service Tax »
 Service Tax revision to make digital content expensive: Here’s how it will impact you
 GST Council may reduce tax slabs in future: CBEC chief
 Govt to waive service tax on card transactions up to Rs 2,000
 Recovery Of Tax Under Model Gst Law
 Income Tax officials hunt for Mumbai’s ‘ghost’ assessee
 GST delay to impact Budget
 If GST not rolled out by Sept, there won't be taxation in country, warns Jaitley
 India’s E-Service Tax Will Add To Foreign Content Providers’ Woes
 GST Council to discuss model laws, tax jurisdiction today
 Tax Invoice Under GST
 Insurance may fall under 12% tax slab in GST, from 14% service tax currently

Govt asks industry to be ready for used car imports
June, 02nd 2008

Despite taking a tough stand against liberalising the trade of re-manufactured goods at the World Trade Organisation (WTO), the government has begun to nudge Indian industry to reconsider its opposition to such imports.

Indian industry believes that re-manufactured goods are cheap second-hand goods in the garb of a respectable name and has for long opposed their import on the grounds that they will decimate domestic manufacturing.

"The recent inclusion of re-manufactured goods in the Non-Agricultural Market Access (Nama) talks has been done to please some major developed countries. We are going to oppose it. But Indian industry should think about market access in re-manufactured goods," said a government official.

Four months ago, at a consultation organised by the Federation of Indian Chambers of Commerce & Industry, Rahul Khullar, additional secretary in the ministry of commerce & industry and India's chief negotiator at the WTO, had said industry would have to ask itself whether India would have an export interest in such goods.

The re-manufacturing industry in the US is worth $4 billion to $5 billion and these units are eligible for local tax benefits given under the guise of sustainable manufacturing.

Afghanistan, Australia, New Zealand, Fiji and Sri Lanka have already opened up to remanufactured automobiles.

In India, the Society of Indian Automobile Manufacturers (SIAM) and the Auto Component Manufacturers Association (ACMA) are unified in their opposition.

"Permitting re-manufactured auto components into India could hasten the demise of the nascent Indian automotive industry," said Dilip Chenoy, SIAM's director-general.

In Japan, the pollution tax on passenger cars older than three years is prohibitively high.

"By exporting these cars under the guise of re-manufactured vehicles at attractive prices to developing economies like Sri Lanka, where environmental standards aren't as stringent, Japan has transferred the cost of pollution to another country. India shouldn't be the next victim," said an expert opposing the Nama draft.

Advocates of re-manufactured goods, however, argue that these are as good as new and can be had for half the price of new ones.

"Bringing back a used component to its original performance standard could be defined as re-manufacturing," said Subbaraman Ramkrishna, executive-director, Caterpillar India, which is a subsidiary of the world's largest manufacturer of construction equipment.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 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