Apple has reportedly sought various sops from the Indian government
The Dollar Business Bureau The government has not been taking any decision on Apple Inc’s wish-list with regards to its plan to establish a manufacturing unit in India until there is clarity on the tax incentives that will be accommodated in the upcoming goods and services tax (GST) regime. Aruna Sundarajan, Secretary, Ministry of Electronics and IT said on Friday that a decision on tax incentives to Apple can only be taken when tax rates under the GST regime are finalised. Sundarajan said that the GST is still in the evolving stage. Apple is asking a favourable duty regime, to make it profitable for them to manufacture in India. Therefore, it needs to be looked into how favourable should that something be. But the ...
Pre-budget meet: Export bodies suggest ways to boost global trade
The current service tax refund mechanism is a cumbersome process. The government should exempt the service tax for exports on purchase of capital goods from indigenous manufacturers under EPCG scheme The Dollar Business Bureau The government should consider the inverted duty structure in respect of various items as it not only affects exports but also the manufacturing sector Several industry bodies on Wednesday proposed to the government some additional measures including a continuation of certain tax exemptions to expand manufacturing capacity and encourage exports. In its pre-budget meeting with the Finance Minister Arun Jaitley, the Engineering Exports Promotion Council (EEPC) recommended that the corporate tax rate should be brought down to the MAT rate of 18% or export income should be taxed at ...
SAARC eyes India as major source of engineering products
The Dollar Business Bureau Around 54 European firms from the UK (15) and Germany are said to be building their networks with their Indian counterparts at the IESS SAARC region seems to be increasingly looking at India for meeting its engineering product requirements, said an engineering exports body. Various engineering firms from the SAARC countries present at the India Engineering Sourcing Show (IESS) 2015 - the flagship event of the Engineering Export Promotion Council (EEPC) and the Commerce Ministry – are looking at India as a major source of engineering products including those relating to high technology such as aircraft parts, automobile, and energy saving devices, EEPC said in a release. Speaking at the inaugural session, Ravi Capoor, Joint Secretary ...
