MEIS is being redesigned to make it GST compliant
The Dollar Business Bureau The Government of India is re-designing the Merchandise Exports from India Scheme (MEIS) in order to make it compliant with the upcoming new tax regime goods and services tax (GST), said a senior official on Wednesday. “The MEIS is being re-designed to make exports from India GST-compliant,” said Neeraj Prasad, Additional Commissioner, GST Cell, Central Board of Excise and Customs (CBEC), while addressing the Executive Committee Meeting of FICCI in New Delhi. Under the GST, the issue related to working capital requirements is being discussed upon by the Government, he added. The Ministry of Commerce provides duty benefits on various products under the MEIS. It offers duty benefits at 2%, 3% and 5% based on the product and ...
Telecom sector: Indigenous manufacturing key to ensure security
Sai Nikesh | The Dollar Business The Telecom Department of India on Thursday called for a frequent exchange of ideas among manufacturers, industry operators, industry and the R&D institutes, so as to overcome the shortcomings being faced by the Indian Telecom sector. Speaking at the Make in India Telecom conclave, Rakesh Garg, Secretary, Department of Telecom(DoT), said, “India, despite having huge talent source, is depending heavily on imports especially in Electronics and Telecom sector.” “Research is being done in India, but the Intellectual Property Rights are lying with foreign countries,” said Garg, while raising concerns over the issues being faced by the Research and Development (R&D) team of the sector. He went on to say that even after manufacturing ...
