Interviews
FICCI President seeks investment-led budget
02 Jun '09
3 min read
• Earlier Tax benefit for exports under Section 80HHC be temporarily revived to tide over the current downturn
• Raise the interest rate subvention for exports from 2% to 3%
• Review the FTA arrangements, particularly in the light of the current environment
On INDIRECT TAXATION, the FICCI President, suggested the following:
• Evolve a suitable refund mechanism for the huge Cenvat accumulations which cannot be modvated
• Reduction in excise, service tax and rationalization of customs announced in stimulus packages be continued for one more year
• Avoid bringing down import duties any further. Any duty reduction should be calibrated with internal reforms
• Withdraw service tax on packaged software as it is already subject to excise duty/CVD
• Raise the interest rate subvention for exports from 2% to 3%
• Review the FTA arrangements, particularly in the light of the current environment
On INDIRECT TAXATION, the FICCI President, suggested the following:
• Evolve a suitable refund mechanism for the huge Cenvat accumulations which cannot be modvated
• Reduction in excise, service tax and rationalization of customs announced in stimulus packages be continued for one more year
• Avoid bringing down import duties any further. Any duty reduction should be calibrated with internal reforms
• Withdraw service tax on packaged software as it is already subject to excise duty/CVD
Federation of Indian Chambers of Commerce and Industry
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