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: form 3cd :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: Central Excise rule to resale the machines to a new company :: empanelment :: due date for vat payment :: cpt :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: list of goods taxed at 4% :: articles on VAT and GST in India
 
 
« News Headlines »
 Reforming the income tax tribunal
 How the new system might impact consumers and businesses
 10 ways you get benefited from filing your tax return
 Returns under CGST Act,2017 with Rules
 Ten facts to know about filing income tax return this year
 The Ten Commandments of Tax Filing
 How to claim income tax refund
 How to time your buys to have best of two tax regimes
 Here's why you must always check Form 26AS before filing tax return
 Want to file your income tax return after June 30? Having Aadhaar card is a must
 Timeline for filing of tax returns extended by two months

Tax holiday withdrawal haunts pharma in Himachal
July, 20th 2007
Drug companies in Himachal Pradesh are worried the Centre may any day withdraw tax benefits, around three years ahead of the tax holiday period.
 
Their apprehension is based on media reports from Delhi, which said the Prime Ministers Office was actively considering withdrawing this excise package from drug companies doing loan licence or third party manufacturing in Himachal and Uttaranchal.
 
Members of the Himachal Drug Manufacturers Association(HDMA) on Thursday appealed to the state government to take up this issue with the Centre immediately. It also appealed to the Himachal government to continue tax holiday benefits till 2012
 
If the government goes ahead with the withdrawal of this excise package more than 350 pharmaceutical formulation units and around 100 ancillary units in the state will close down or move out as most of them are carrying out contract manufacturing or loan licences, said Rakesh Arora, president of HDMA, here today.
 
Around 400 pharma units are currently operating in the state due to the excise package involving an investment of Rs 4,500 crore, of which 80 per cent are small scale units, Arora said.
 
It would have wider implications as over Rs 3,000 crore borrowed from banks and national financial institutions funds will be at stake if the government goes ahead with this move.Besides some 200,000 people will lose their jobs, he said.
 
After the excise package was announced to attract industry to the hill state in early 2003 over 400 units have so far come into operation in Himachal.The tax holiday is to last till 2010.
 
There has been a rush to avail the tax incentives by pharma units from all over the country.Himachal and Uttaranchal have emerged as the pharma hub of India with 70 per cent of the drug units currently located in these twin hill states.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Custom Software Development Outsourcing Custom Software Development Offshore Cus

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