Search Result for : Mat

The Dollar Business Bureau India’s exports from the Special Economic Zones (SEZs) has witnessed an increase of 18% in the month of February this year as compared to the same month last year, on the back of a good growth in the shipments of electronics, non-conventional energy products and tobacco related products. “The SEZ sector in the country has registered 18% growth in exports in February 2018 vis-a-vis the same period in 2017,” according to the latest Exports Performance Report released by the Export Promotion Council for EOUs & SEZs (EPCES).   “In February, the total exports from all the SEZs amounted to Rs.22364 crore as against Rs.18990 crore in the same month last year,” the report said. The major sectors that witnessed a significant ...

Ahmad Shariq Khan Lauding the work of SEZ/EoU fraternity in shoring up India’s exports, Commerce and Industry Minister Suresh Prabhu on Monday assured the sector’s stakeholders that the Government is looking into their concerns, particularly those relating to imposition of alternate minimum tax (MAT), dividend distribution tax (DDT) and introduction of the sunset clause.  “Leaving aside some complaints about the misuse of the SEZ policy, the Government still believes that the idea of SEZ holds good for the Indian economy. Therefore, we are conducting interdepartmental discussions with respective ministries, including finance ministry, on how to best to ease the tax pressure on the SEZs/EOUs,” Prabhu said while speaking at Export Awards organised by Export Promotion Council for EOUs & SEZs (EPCES) in New Delhi. Urging the ...

The Dollar Business Bureau The Export Promotion Council for EOUs and SEZs (EPCES) asked the Government to remove minimum alternate tax (MAT) and continue tax incentives that have been enjoyed by the units in these zones. “The Government should reconsider the restoration of the original Special Economic Zone (SEZ) Act as it can help the sector and generate employment,” said Vinay Sharma, Officiating Chairman, EPCES. The Government should reconsider the industry’s demand for restoring tax benefits in order to support the sector’s growth and creating jobs as the Union Budget 2018-19 did not bring any concrete measure, EPCES said in a statement. “The budget has absolutely nothing important for the SEZs despite flagging the key issues affecting the sector,” it said. ...

 The Dollar Business Bureau India’s total exports originated from special economic zones (SEZs) fell by 1.89% to Rs.3.41 lakh crore during April-December 2015, Commerce Minister Nirmala Sitharaman said in a written reply to the Parliament on Monday.   In the financial year 2014-15, exports from SEZ’s had fallen by 6.13% to Rs.4.63 lakh crore.   “In order to boost exports from SEZs, the government periodically reviews the policy and operational framework of these zones and takes necessary steps to facilitate speedy and effective implementation of SEZs,” Sitharaman said on Monday.  The commerce minister stressed that the Prime Minister Narendra Modi-led government has put a particular emphasis on developing India’s SEZs, as these economic zones hold immense potential to boost the country’s export segment.  ...

Countries like India are majorly Small Medium Enterprises (SME)-driven. So, any trade agreement that the Government of India enters into would definitely be in favour of them, said the Commerce Secretary The Dollar Business Bureau Rita Teaotia (R), Secretary, Ministry of Commerce, Govt. of India, and Arvind Kumar(L), Secretary, Department of Industries & Commerce, Govt. of Telangana, in an interaction with The Dollar Business on Friday   Federation of Indian Exporters Organisations (FIEO), jointly with the State Governments of Telangana and Andhra Pradesh and supported by Trade Promotion Organisations, had organised an interactive session with key officials from the Ministry of Commerce and Government of Telangana, at the reputed Indian School of Business (ISB), in Hyderabad on Friday. After the meeting that focused ...

Source: PTI Prime Minister Narendra Modi and the German Chancellor Angela Merkel with other members at the Indo-German Summit 2015, organised by the NASSCOM & Frauenhofer Institute, in Bengaluru on Monday.   Prime Minister Narendra Modi on Tuesday expressed the hope that Goods and Services Tax (GST) will be rolled out next year. Addressing Indian and German business leaders in Bengaluru, Modi said, “We have introduced GST bill in Parliament and hope to roll it out in 2016.” The Bill has already been approved by the Lok Sabha and is pending in the Rajya Sabha, where the ruling NDA does not have a majority. After its approval by Parliament, half of the state legislatures too need to approve the Constitutional Amendment ...

Source: PIB, Government of India After due consideration of the various aspects of the matter, the government of India has decided that with effect from 01.04.2001, the provisions of Section 115JB shall not be applicable to a foreign company if — The foreign company is a resident of a country having DTAA (Double Taxation Avoidance Agreement) with India and such foreign company does not have a permanent establishment within the definition of the term in the relevant DTAA,  or The foreign company is a resident of a country which does not have a DTAA with India and such foreign company is not required to seek registration under Section 592 of the Companies Act 1956 or Section 380 of the Companies Act 2013. An appropriate amendment ...

The Dollar Business Bureau In a move resolving tax issues, the Central government on Wednesday said that it would soon come up with a list of exemptions that would help in reducing corporate tax over the coming four years. An official statement in this regard was made by the Union Finance Minister Arun Jaitley speaking at the ‘India Summit 2015’ organised by UK-based Economist magazine in New Delhi on Wednesday. The Finance Minister announced that the government would, in the next few days, would issue a list of exemptions that would help in bringing down the corporate tax rate to 25% over the next four years. “Over the next few days we will come out with a list of exemptions, which we intend ...