Search Result for : Capital Goods

The Dollar Business Bureau Due to higher rates of Goods and Services Tax (GST) along with some other issues, the growth of capital good leasing sector, which is growing at 15-20% may get tapered, said the representative body-cum-self regulatory organisation for NBFCs, theFinance Industry Development Council (FIDC). The capital good leasing sector in India is estimated to be worth Rs.5500 crore. “The GST rate of 28% is high for the leasing industry when compared to the earlier 5-15% tax burden. Higher GST rates lead to requirement of higher working capital at any point of time. This results in increasing the cost of leasing an equipment,” Mahesh Thakkar, Director General, FIDC told PTI. He urged the Government to actively consider not putting the capital goods ...

By Ranjeet Mahtani & Niraj Hande The most crucial GST Council meeting took place on 18th and 19th May, 2017 in Srinagar, Jammu and Kashmir. The GST Council has finalised seven sets of GST Rules and completed the fitment of most goods and services in various tax brackets in the last two days. Rules The GST Council has approved seven sets of GST Rules which pertain to Composition, Tax Invoice Credit & Debit Notes,Input Tax Credit, Payment of Tax, Refund, Registration and Determination of Value of Supply. The Rules pertaining to Transition and Returns were not finalised and shall require further vetting before approval. The next step will be for Governments, State and Central to now notify these. Rates The GST Council has ...

The Dollar Business Bureau Buoyed by improved performance in all major export sectors, Malaysia’s exports grew 24.1% year on year during March 2017. Beating expectations, the South-East Asian economy boasted a double-digit growth in exports for the fourth consecutive month since December 2016. As stated by the Ministry of International Trade and Industry, Malaysia (Miti), exports surpassed economic forecasts of a 20% growth by a significant margin. Explaining the ‘outstanding trade performance in March 2017’, a media release by Miti read, “Malaysia’s trade continued its strong momentum in March 2017, expanding by 31.1% to RM159.86 billion compared with the year before. Higher trade was seen with ASEAN, China, the United States of America (USA), the European Union (EU), the Republic of Korea (ROK) ...

The Dollar Business Bureau Industrial production dropped to a four-month low, declining 1.2% in the month of February, majorly due to the contraction in the manufacturing sector and lower offtake of consumer as well as capital goods. The Index of Industrial Production (IIP) had recorded 1.99% growth in the month of February last year. For the period April-February 2016-17, IIP growth was almost flat at 0.4% compared to 2.6% in the same period a year ago. For the month of January, the Central Statistics Office (CSO) has revised the industrial output growth to 3.27% from 2.74% in the provisional data issued last month. The previous low was witnessed in the month of October last year when the IIP declined ...

PTI  The BJP's landslide victory in UP and Uttarakhand worked wonders for the market as the Nifty hit an all-time high of 9,123 and the Sensex soared 616 points in opening trade today after a gush of capital inflows. What made mood more buoyant was better than expected industrial output numbers. IIP (index of industrial production) in January bounced back by expanding 2.7 per cent year-on-year. All sectoral indices led by bank, capital goods and realty were in the positive zone with gains up to 2.20 per cent. The 50-share NSE Nifty climbed 188.20 points, or 2.10 per cent, to record an all-time high of 9,122.75 intra-day, surpassing its previous corresponding figure of 9,119.20 on March 4, 2015. The 30-share Sensex ...

The Dollar Business Bureau Industrial activity in India, the figures for which are still to be released, is likely to see an upward trend in the month of January as there is an improvement in the overall economic scenario since December, according to a report.  Industrial output declined to a 4-month low of 0.4% in December, mainly due to fall in the production of consumer goods and capital goods.  “The contraction in IIP (Index of Industrial Production) was partially due to base effects, but largely by production contraction was due to demonetisation, particularly in automobile output,” Kotak Institutional Equities said in its research note.  Since then, the scenario is expected to have improved and IIP growth should witness some uptick in the month of ...

National Capital Goods Policy, to be launched soon, aims toincrease production of capital goods by 3 times over the next decade- fromRs.2,30,000 crore to Rs.7,50,000 crore The Dollar Business Bureau Automobile Mission Plan (AMP) 2016-26, which has been finalised and to be launched shortly, aims to place Indian automotive industry in the world top three position in engineering and auto component segment   Department of Heavy Industry (DHI) is taking various steps in making India a manufacturing hub as well as to implement the Make in India campaign, said the Union Minister of Heavy Industries & Public Enterpriseson Tuesday, as he informed the media about key budgetary provisions made to his Ministry in the Budget 2016-17. DHI is taking steps for the improvement ...

The Dollar Business Bureau    As part of efforts to enhance domestic manufacturing, the government will set up centres for excellence across the country to ensure skill development in various sectors including capital goods and automotive. The Department of Heavy Industries (DHI) and the Ministry of Skill Development & Entrepreneurship on Tuesday signed an agreement for this purpose. The MoU is meant for creating a national ecosystem for development of skills for the manufacturing sector, in particular the capital goods sector and automotive sector and other sectors/subjects covered by DHI, a government statement said on Wednesday. “We are aiming to create direct and indirect employment for 30 million workers in the capital goods sector by 2025. Hence, we have signed the MoU ...