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Budget 2021: India Inc s wishlist
Budget 2021 would be unprecedented in many ways, as the government would have to focus on providing stimulus packages to revive the economy, while also identifying other avenues of revenue to bridge the widening fiscal deficit
The expectation from this budget would be to address several challenges that have arisen as a result of the pandemic and its impact on the economy, on the people, and their livelihoods
2020 was a year of whirlwind changes for the world at large. The world of direct taxation was not far behind, facing its own set of challenges during these unprecedented times. With the Union Budget 2021 around the corner, expectations are high among industry experts for these challenges to be addressed.
Textile industry pins high hopes on Union budget
The council has also sought procedural simplification by Tax Collected at Source (TCS) and concessional tax regime (CTR) for expansion to boost investment in the sector.
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AEPC has proposed enhancing the interest equalization scheme to all apparel exporters and not just the MSMEs. By Express News Service
CHENNAI: The textile industry, which has been crippled by the Covid-19 pandemic, has shown good signs of recovery in the last few months and now has a lot of expectations from the upcoming budget.
The anti-China sentiment, quality goods and timely production have helped the manufacturers and exporters attract good global business and the textile industry feels that it is the opportune time for the Centre to provide appropriate support to the industry to fuel its next phase of growth.
The grand side of thrill: The new BMW 3 Series Gran Limousine launched in India ANI | Updated: Jan 21, 2021 16:01 IST
Chennai (Tamil Nadu)[India], January 21(ANI/BusinessWire India): BMW India has launched the new BMW 3 Series Gran Limousine in the country. Locally-produced at BMW Group Plant Chennai exclusively for the Indian market, the car is available in both petrol and diesel variants at all BMW India dealerships from today onwards.
The long-wheelbase Gran Limousine is a new addition to the BMW 3 Series family. It is the long-wheelbase version of the highly successful BMW 3 Series. It has been launched in India considering the clientele s preference for long sedans. The new BMW 3 Series Gran Limousine takes on the position of the longest, most spacious and comfortable car in its segment and sets a new benchmark in the class. It offers sportiness, comfort and innovations exclusively for the Indian market.
Tour operators’ body urges govt to end cascading impact of multiple taxes
January 11, 2021
Wants govt to treat tourism sector on par with IT industry
The Indian Association of Tour Operators (IATO) has urged the Centre to take measures to solve the challenges of multiple taxation faced by tour operators.
It demanded to either lower the GST charged from tour operators or allow input tax credit and end the cascading impact of multiple taxes.
“The tour operators suffer from multiple taxation at different levels as they offer multitude of services ….for which they have to pay GST at about 18-23 per cent. Further, on their total billing, they pay GST at the rate 5 per cent (without input tax credit). This compares unfavourably with neighbouring countries where GST rates of about 6-8 per cent are charged from tour operators,” IATO said in a statement.