Interviews
GEA expectations from Budget 2008
11 Feb '08
3 min read
4. To restore 100% exemption to export earnings under Section 80 HHC of Income Tax Act.
5. To reduce the transaction cost by simplifying administrative procedures by avoiding delays at customs clearance of goods; improving loading and unloading of cargo and infrastructure at ports to avoid congestion at various ports.
6. For running of generator/boiler diesel should be made available at International prices and exempted from Excise Duty and Local Levies.
7. The Government should also exempt exporters from Service Tax on all export related services to avoid blockage of capital of exporters, as the procedure for refund is time-consuming, resulting in unnecessary delays and harassment.
8. Exporters should also be exempted from the Fringe Benefit Tax.
9. The Government should also arrange refund of State Levies on exports, amounting to 6% of f.o.b. value.
10. The Custom duty on import of textiles machinery, accessories and fabrics should be abolished allowing free import at nil rate.
11. To treat the exporters who export 100% of their product irrespective of their location at par with 100% EOU's.
Click here to read more:
5. To reduce the transaction cost by simplifying administrative procedures by avoiding delays at customs clearance of goods; improving loading and unloading of cargo and infrastructure at ports to avoid congestion at various ports.
6. For running of generator/boiler diesel should be made available at International prices and exempted from Excise Duty and Local Levies.
7. The Government should also exempt exporters from Service Tax on all export related services to avoid blockage of capital of exporters, as the procedure for refund is time-consuming, resulting in unnecessary delays and harassment.
8. Exporters should also be exempted from the Fringe Benefit Tax.
9. The Government should also arrange refund of State Levies on exports, amounting to 6% of f.o.b. value.
10. The Custom duty on import of textiles machinery, accessories and fabrics should be abolished allowing free import at nil rate.
11. To treat the exporters who export 100% of their product irrespective of their location at par with 100% EOU's.
Click here to read more:
Garments Exporters Association
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Mohankumar Rathinaswamy
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