Search Result for : Budget 2015 16

The Dollar Business Bureau All Pakistan Textile Mills Association (APTMA) has asked its government to stop exporting cotton from Pakistan to India. The industry body is urging to protect the interests of Pakistan textile industry. Cotton exports to India without determination of the crop size for FY 2016-17 will hurt the textile industry in Pakistan, APTMA Chairman Tariq Saud said. The industry has already been burdened with 35% decrease in cotton crop production in the country during FY 2015-16. Due to this, it has been importing more than 4 million bales of cotton for its domestic consumption, he said. Cotton cultivation in Pakistan is expected to decline around 25% in FY 2016-17. This will ultimately result in low crop produce in the country. ...

 The Dollar Business Bureau The Union Government is leaving no stone unturned to make the Budget 2015 an absolute delight for the industry. Close to the expectations on the reversal of the inverted duty structure and implementation of the Goods and Services Tax (GST), the Finance Ministry is likely to fix a monetary threshold for furnishing of the Tax Residency Certificate (TRC) for ease of doing business in India. The TRC is usually furnished by small time overseas entities for availing tax benefits under bilateral treaties. Though all companies that pump in foreign direct investment (FDI) furnish TRC, according to tax authorities, the larger companies do not face much problem because they have adequate administrative machinery to deal with the ...

The Dollar Business Bureau Arun Jaitley, Finance Minister, Government of India, has said that thanks to several initiatives taken by the government in the last 7-8 months, the economy is back on a recovery path. Making his opening remarks during the Pre-Budget Consultative Meeting with economists in New Delhi, Jaitley said that inflation and external fronts under control, and macro-economy stability has improved. “Growth deceleration has bottom out and the revival has started,” he added. Jaitley said that the Indian economy registered higher growth in the first half of the current financial year at 5.5% as compared to last year’s 4.9% in the first half, and 4.7% for the full financial year 2013-14. He added that the government is committed ...

The Dollar Business Bureau | @TheDollarBiz The Ministry of Finance, Government of India, has invited suggestions from Trade Associations and other related bodies on changes in the duty structure for various items for consideration in the Union Budget 2015-16. Proposals are also invited on correction of inverted duty structure for commodities, direct and indirect taxes, and changes in Customs and Central excise duty rates. Suggestions must include justification and relevant data about production, prices, and the impact of the changes. Request for correction of inverted duty structure must be supported by value addition details at each stage of manufacturing of the commodity, according to an official statement by the Budget Officer of the Tax Research Unit (TRU), Ministry of Finance. Malay ...