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Urgent need for at least 5% remission rate for aluminium sector: AAI

Read more about Urgent need for at least 5% remission rate for aluminium sector: AAI on Business Standard. The Aluminium Association of India (AAI) on Wednesday expressed urgent need for at least 5 per cent remission rate for the sector under the tax refund scheme RoDTEP to ensure global competitiveness. ....

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Industry hopeful that RoDTEP will eliminate all undesired tax costs for exporters: ET-ILC Members

Industry hopeful that RoDTEP will eliminate all undesired tax costs for exporters: ET-ILC Members
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Industry hopeful that RoDTEP will eliminate all undesired tax costs for exporters: ET-ILC MembersBy Nikita Rana, ET CONTRIBUTORS
Last Updated: Feb 03, 2021, 04:25 PM IST
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Synopsis
The aim of RoDTEP is to refund non-creditable taxes embedded in the export product and the genesis of GST was to create a robust Input Tax Credit mechanism.
Government of India’s proposal to replace the Merchandise Export Incentive Scheme (MEIS) with the Remission of Duties or Taxes on Export Product (RoDTEP), as the former was not WTO compliant, seems to have gone down well with most industry players. Now, in a recent statement released, the finance ministry has said that the RoDTEP scheme will be extended to all export goods from Jan 1, 2021. The RoDTEP rates, conditions and exclusions under which it can be availed will be detailed by the department of commerce, ....

Satyakam Arya , Rohit Jain , Merchandise Export Incentive Scheme , Export Product , Input Tax Credit , Economic Laws , சத்யகம் ஆர்யா , ரோஹித் ஜெயின் , பொருட்கள் ஏற்றுமதி ஊக்கத்தொகை திட்டம் , ஏற்றுமதி ப்ராடக்ட் , உள்ளீடு வரி கடன் , பொருளாதார சட்டங்கள் ,

Steps on infra, customs duty in Budget to promote mnfg, exports: Exporters

Steps announced to develop modern infrastructure and rationalisation of customs duties on different products would help in promoting domestic manufacturing and boosting exports, according to exporters.
Federation of Indian Export Organisations (FIEO) President S K Saraf said that modern infrastructure makes exports competitive as it helps in reducing the logistics cost.
The various facilities for fisheries will push marine exports of the country which has yet not reach anywhere near its potential, Saraf said.
He also said the government should allocate the requisite funds for RoDTEP (Remission of Duties and Taxes on Export Products), MEIS (Merchandise Export Incentive Scheme) and SEIS (Services Export Incentive Scheme) so that the uncertainty is removed and exporters past claims may be released quickly as the same has severely eroded their liquidity. ....

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Pinning hopes on the Budget for impetus | Surat News

Picture used for representational purpose only
AHMEDABAD/SURAT/ VADODARA: After having battled Covid-induced disruptions and slowdown, businesses are now looking at 2021 with great hopes of recovery. Several industrial sectors are expecting far-reaching measures in the forthcoming Union Budget for 2021-22 to boost economic revival.
Special policy needed to boost APIs production
To become self-reliant in drug manufacturing, the pharmaceutical industry wants a special policy and investment-based tax incentives for APIs (pharma raw materials) manufacturing in India Currently, the industry is heavily dependent on China for APIs.
The Indian Drug Manufacturers Association also called for strengthening healthcare infrastructure in rural and semi-urban areas, and it has suggested a weighted tax deduction of 200% on the amount spent for such infrastructure activities. The other demands of the sector include Customs duty exemption to medical devices, applying 12% GST on me ....

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Pinning hopes on the Budget for impetus | Vadodara News

After having battled Covid-induced disruptions and slowdown, businesses are now looking at 2021 with great hopes of recovery. Several industrial secto ....

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