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 :: TDS :: empanelment :: articles on VAT and GST in India :: VAT RATES :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: cpt :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« News Headlines »
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits

Finmin denies sops to Fab City semiconductor project
September, 25th 2006
The much-touted Fab City project in Hyderabad supposed to be a launching pad for the semiconductor industry in India is finding it tough to cross the finance ministry hurdle. Apprehensive of revenue loss, the ministry has rejected sops proposed by the information technology department (DIT) and the Andhra Pradesh government to attract multinational chip makers to India. With such roadblocks coming its way, the proposed semiconductor policy may not seem attractive enough for the likes of AMD, Intel and others who were coming together for the SemIndia project in Andhra Pradesh. The IT department had pitched for a host of incentives for the chip makers, including equity participation of 26%, interest-free loan of up to Rs 400 crore for five years, 10-year interest subsidy and 10-year income tax holiday. Tax credit of up to 30% of investment value spread over three years and sops at par with special economic zones (SEZs) were also discussed. The proposed sops, it is estimated, would cost over Rs 50,000 crore in the next 15 years. Besides, the state government is also looking at various other incentives like land at concessional rates. As per the finance ministry estimate, the entire spectrum of chip-making and the average decline in price, year-on-year basis, ranged from 4%-5%. The internal rate of return, keeping the price decline in view, is estimated to be between 130-150% over a 15-year period. Thus, there was no logic in incentivising a project which was intrinsically viable. Also, if the project gets SEZ status, it would avail the incentives that SEZ exporters are eligible for. Earlier, the finance ministry had suggested capping of incentives at 15% of the total cost of the project like its done in Israel. But the DIT and the Andhra Pradesh government had been pressing for sops, and they had taken it up with the prime ministers office (PMO). The PMO, then, asked the DIT and the MoF to resolve their differences and reach a common ground. However, with the finance ministry hardening its stance, the semiconductor policy may find it difficult to see the light of the day.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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