Home / Knowledge / News / Textiles / DMAI's budget proposal for the year 2012-2013
DMAI's budget proposal for the year 2012-2013
15
Feb '12
The Dyestuffs Manufacturers' Association of India (DMAI) submits their proposal for the Union Budget –2012-2013.

A. CUSTOMS

1) General : Presently, there is an inverse duty structure. To give boost to exports and earn more foreign exchange, the duty structure should be as under:-

- Zero Percent duty on all types of fuels

- Low duty rate of 2% on basic Building Blocks like Benzene, Toluene, Xylene, Naphthalene etc.

- Moderate duty rate on Intermediates of 5%

- High Duty rate on finished products of 7.5%

This will encourage the industry to export value added finished products and import only basic products of low value.

2) Specific: Import Duty on Dyestuffs, Pigments & Optical Brighteners

In order to save local dyestuffs manufacturing units, import duties on dyestuffs should be at least retained at the present levels to enable them to compete with the imported products, as the following parameters add to cost.

- High utilities like power, fuel, water etc.

- Octroi in some states (Though it is a state subject, Finance Ministry could prevail upon states and direct them to abolish Octroi).

- High rate of interest on finance as compared to other countries of the world.

- GST to be implemented immediately.

- No anti-dumping duty - Protection on raw materials used by dyestuff industry, as the country has to compete with China.

B. EXCISE

Refund of Excise to Exporters

i) We also request that clear cut guidelines be laid down to complete the procedures and formalities regarding refund of excise duty to exporters within a strict time frame including provision for payment of interest on late refunds. Any discrepancy in refund application should be verified before accepting and returned with discrepancy note, if any. This will help not only our exporters under SSI units, but also other manufacturers-exporters as well.

ii) Exemption scheme, which has provided concessional rate of 60% of the normal rate of Central Excise Duty (CED) with Cenvat credit upto clearances of Rs. 1 Crore (Notification No. 9/2003-CE), has been withdrawn. This scheme had encouraged Small Scale Units to go in for Cenvat Credit from the very first clearance and hence needs to be reinstated, which will be consistent with the Government's avowed objective of encouraging the sector. The slab of the first clearance value of Rs.100/- lacs may be increased to Rs.250/- lacs. Also, for eligibility criteria, aggregate of value of Rs.4 crores in the previous financial year should be increased to Rs.5 crores.

C. INCOME TAX

a) Corporate Income Tax to be reduced to max. 30% and there should be no other surcharge and cess. Income Taxfor individuals and others to be reduced to 25% max. It is an established fact that reduction in tax invariably increases revenue collection.

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search