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: form 3cd :: list of goods taxed at 4% :: VAT Audit :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: cpt :: VAT RATES :: Central Excise rule to resale the machines to a new company :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: articles on VAT and GST in India
 
 
News Headlines »
 5 tax-saving funds that have given stellar returns in the past 5 years
 Find out which ITR Form is suitable for you
  Pr CIT vs. Baisetty Revathi (Andhra Pradesh High Court)
 What is income tax?
 Refund procedure initiated under GST
 Income tax returns (ITR) filing: How to get capital gains tax benefits on assets in own name
 7 avenues to help you save tax under Section 80C of Income Tax Act
 How to make income tax law less taxing
 Your Income Tax returns (ITR) filing revised? 5 points you must worry about
 Revised income tax returns under I-T radar
 Govt to simplify income tax laws, sets up task force under taxman Arbind Modi to study overhaul

Tax rain: Capital goods to get output push
August, 26th 2006
The government may extend excise duty exemptions and tax benefits to the capital goods industry so as to boost production activity in the sector, the minister for heavy industries Santosh Mohan Dev said on Friday. The capital goods industry has asked the government that a minimum duty of 5% must be imposed on the import of capital goods as against 0% now, so as to give a level playing field to Indian industries, according to the draft report recommendations on Indian capital goods industry prepared by the Confederation of Indian Industry (CII). Also the customs duty for imported raw materials should be a minimum 5%, so that manufacturers source more of these domestically rather than rely on imports. The report has recommended a 150% weighted deduction on R&D expenditure as under the Income Tax Act and customs duty on laboratory testing equipment should be reduced to 5% or exempted. In addition, the government is also proposing a 2% interest subsidy on capital goods. These are slated to be discussed at the Prime Ministers High Level Committee headed by the chairman National Manufacturing Competitiveness Council (NMCC) V Krishnamurthy. Apart from this, the government has also started a capital goods competitiveness enhancement scheme for machine tools and textile machinery for two years 06-08 which is being tried on a pilot basis currently, the minister said. If successful, the scheme will be incorporated in the eleventh 5-Year Plan with the approval of the Planning Commission. The scheme aims to offer techniques in business development services, common research & development and modernisation to the capital goods sector. The report marks out electrical equipment, mining and construction, machine tools and process plants as the priority areas for growth in the sector. The capital goods industry has shown significant growth in the past two years with a 13.3% growth in 04-05 and 15.5% in 05-06. Up to May 06, the industry has recorded a growth of 21%, the minister said addressing the seminar on capital goods industry organised by CII. Speaking on the occasion chairman, NMCC, V Krishnamurthy said that more needs to be done to revive capital goods industries in the government like Heavy Engineering (HEC) and Hindustan Machine Tools (HMT). Customer orientation for heavy industries is important to stay in business as has been done by Bharat Heavy Electricals (Bhel) and Larsen and Tubro (L&T), he added.
 
 
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 Portfolio

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