• Linkdin

FIEO urges FM to exempt exports from Fringe Benefit Tax

03 Jun '09
5 min read

9. The MDA scheme may be further liberalized by increasing direct participation in the Trade Fairs, increasing threshold limit from Rs. 15 crores to Rs. 30 crores limit, withdrawing restriction of number of visit and increasing the participation charges.
10. Constitution of an “Exports Facilitation Board” under the Chairmanship of Prime Minister with Commerce Minister, Finance Minister, Textile Minister, Surface Transport Minister, Minister for Shipping, Minister for Labour ,President FIEO, Chairman of other exports organization etc as Member. The Board should meet once in every quarter to evaluate exports and suggest measures for boosting it and also resolve inter departmental issues .
11. Cost of credit in India is very high whereas our competitors get at less than 5%.Export Credit may be provided at 7% otherwise Exports credit may be allowed at 4 % below the PLR and subvention scheme may be extended till 31st March 2011 and additional sector be added.
12. Exporting Units may be exempted from Income-tax for a period of 5 years to neutralize to some extent the high transaction cost suffered by exporters. And also to enable them to go for modernization and up-gradation of machineries and expand production base.
13. Exports may be exempted from Fringe Benefit Tax (FBT) and Service Tax to make it competitive. FBT is a tax on our marketing efforts and refund of Service tax is a nightmare for exporters.
14. Service Tax may be waived off to FIEO, EPCs/Exports Organizations/Associations to boost export promotion and development activities.
15. National Rural Employment Guarantee Programme (NREGP), only provides 100 days of wage employment in a year, to each rural household in the identified district at minimum wages. Export industry can provide guaranteed employment for at-least 250 days in a year at better wages and could give an undertaking to this effect to the District Collector. With a view to further focus on women, 60% of the employment can be earmarked to female workers in such units. Extension of NREGP to exports will provide more employment in this sector while at the same time, reducing government expenditure under this scheme.

Federation of Indian Export Organisations (FIEO)

Leave your Comments

Esteemed Clients

TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
TEXVALLEY MARKET LIMITED
TESTEX AG, Swiss Textile Testing Institute
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Taiwan Textile Federation (TTF)
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Stahl Holdings B.V.,
Advanced Search