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: empanelment :: VAT Audit :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: form 3cd :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: cpt :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: list of goods taxed at 4%
 
 
« General »
 India's tax department signs 3 advance pricing agreements
 Income Tax Dept to probe deeper into suspicious bank accounts
 Modi may lower taxes to spur demand in his budget sops
 Tax breather for foreign investors: All you need to know
 What the increase in tax collections does not tell us about Indian economy post demonetisation
 India’s crazy retrospective tax on foreign funds will tarnish country’s reputation
 How tax related, PAN grievances can be resolved through E-Nivaran
 Tackling income tax exemptions for equities and agriculture
 Amfi wants tax benefits for retirement plans
 Top five factors which could chart market direction in the coming week
 Tax rate hikes boost shadow economy

Tax sops fail to cut: report
September, 02nd 2009

Despite the government providing income tax exemption of 150% for infusing technologies in electronics and appliances industry through R&D, the Indian industry spends only $0.1 billion on the same and meets 70% of its electronics demands through imports, especially from China, US and Asian countries, says a report by E&Y and Assocham.

It is interesting to observe that more than 35% of electronics appliances imports in India are sourced from China, the report says.

In a paper on electronics industry jointly brought out by the two organisations, has highlighted that until March 2009, the country imported worth $19.77 billion of electronics goods as against its exports of $3.17 billion.

More than 70% of electronics demand is met through imports of which imports of finished electronics goods were around $13.90 billion and those of electronics components $5.87 billion by March 2009.

Assocham President Sajjan Jindal told FE, Meagre spending on R&D by electronics industry has increased the countrys dependence on electronics imports despite of the fact that 150% income-tax exemption is awarded by the government to electronics industry under Income-Tax Act Section 35 (2AB).

In the E&Y and Assocham paper, 89 companies with total revenue of $21.32 billion in electronics sector have been analysed. These companies had imports of raw materials and finished goods worth $3.37 billion in the year 2008-09. The remaining import of $16.4 billion is imported by other companies.

According to its findings, manufacturing activity in electronics sector is confined to domestic value addition, estimated at 40% of market size in India for year 2008-09 with primary employment potential of 5,500 to 6,000 for every $1billion of revenue.

The electronics and appliances market is estimated to have a market share of less than 2% of the global market, a production share of less than 1% of the global market and negligible exports from India.

The FDI in electronics industry has been $0.75 billion during the nine-year period from April 2000 to March 2009.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Bath SEO Company Birmingham SEO Company Bradford SEO Company Brighton and Hove SEO Company Bristol SEO Company Cambridge SEO Company Canterbury SEO Company Carlisle SEO Company Chester SEO Company Chichester SEO Company Coventry SEO Compan

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