Banking & Insurance Professionals
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Source : http://www.taxindiaonline.com
Activity:
2 comments
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last activity : 03 05 2011 09:07:36 +0000
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Hi Friends,
These are some of the suggestions to benefit the foreign trade in Budget 2011. This article has been posted in http://www.taxindiaonline.com/
Regards,
AKash
Budget Suggestion and Expectation
1.Stimulas Package given in 2008 should be continued till the time the Global and domestic trade is fully recovered and withdrawal of the same should be in slow and phased manner
2.Removal of SAD on Raw Materials Net revenew to the Govt from SAD is NIL as the manufacturer are allowed to take CENVAT credit and Traders qualify for getting refund on subsiquent sale.
3.Income Tax Benefit to EOU units The same should be extended for another one year or till implimentation of Direct Tax code. There are large number of EOU units in India, life of these units may come to an end in case govt withdraws the Income tax benefit or an alternative scheme is provided to them
4.GOvt should give some additional incentive or benefit all such units which manufactuer Environmental freindly. Ozone free products
5.Imports under IGCR norms need further simlification annual licence should be allowed as against quaterly licence now.
6.Customs duty on High technology item and its parts should get some customs duty benefit to attract more manufacuring in India.
7.Port Infra Govt should allocate funds for port infra, the infrastructure growth in India is much much lower compared to the gowth in Economy.
Rama Krishnan.J
LG Elelctronics India
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I agree. India should be self-reliant in this filed it has capability to do so. Imports are means of getting kick-backs for politicians should be restricted. They also drain a lot of foreign excahnge which is not good for the economy. |
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