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of Central Excise Duty (CED) with Cenvat credit upto clearances of Rs. 1 Crore (Notification No. 9/2003-CE), has been withdrawn.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

Textiles | On 26th Apr 2017

Kering's consolidated revenue growth rises 31.2% in Q1

The consolidated revenue growth for luxury group Kering for the first ...

Courtesy: SKF

Textiles | On 26th Apr 2017

SKF brings predictive maintenance for machinery to India

SKF India, a global supplier of bearings, seals, mechatronics,...

Textiles | On 26th Apr 2017

CITA to add insufficiently available fabric in CAFTA-DR

The Committee for the Implementation of Textile Agreements (CITA) has ...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Ashok Desai
Bombay Textile Research Association

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search