« Top Headlines » Open DEMAT Account in 24 hrs  MSME Payment Rule in Tally Prime: Understanding the Law and Its Impact on Businesses in 2025 The MSME (Micro, Small and Medium Enterprises) Payment Rule is a legal framework introduced under th  Multipurpose Empanelment Form (MEF) 2025 26 Meaning, Purpose, and How to Manage It in Tally Prime  GST Appellate Tribunal (GSTAT) Structure, Powers, and Its Relevance in Tally Prime Implementation  How Tally Prime Supports the Real Estate & Construction Industry in India  Comparison Between Tally Prime 6.1 and Tally Prime 6.2  How Tally Prime Renewal Helps Save My Data  Where to Buy Tally Prime 7.0 at the Best Rates Possible  CBDT extends specified date for filing of various reports of audit for the Assessment Year 2025-26  Tax audit deadline nears: Will Finance Ministry grant an extension?  Are large income tax refunds getting delayed? Here s what you can do if you are yet to receive refund  MSME Form 1 for Enhanced Reporting in Tally Prime Silver «  Corporate tax collection grows a whopping 50%... Inverted import duty form may stand straight... » EOUs seek extension of I-T sop December, 06th 2006 Export-oriented units (EOUs) have sought extension of the income-tax exemption under Section 10B of the Income-Tax Act beyond March 31, 2009.    The export promotion council for EOUs and SEZs has, in its budget proposals, sought extension of the tax holiday for 10 consecutive assessment years. Exports from EOUs were worth Rs.37,657 crore last year.    T Vasu, chairman of the Export Promotion Council for EOUs and SEZs, said supplies from domestic tariff areas to EOUs should be exempted from service tax too, as mentioned in the foreign trade policy.    At present, EOUs have to pay central sales tax (CST) and then take refund. This leads to blockage of funds, delay in reimbursement, extra administrative work and increase in transaction cost.    The CST should be exempted ab-initio. This has already been done in the case of SEZ units. This does not have any revenue implication as the CST is in any case refunded, Vasu said.    Vasu also sought amendments in the foreign trade policy regarding procedure of Personal Carriage of Gems & Jewellery, duty free re-import of goods displayed at international exhibitions, sub-contracting abroad, import of goods by EOU and supply of services in domestic market against free foreign exchange.