Home / Knowledge / News / Textiles / Handicraft sector demands exemption from Income Tax
Handicraft sector demands exemption from Income Tax
12
Feb '10
Export Promotion Council for Handicrafts (EPCH), in its Pre-Budget Memorandum to the Government recently, has recommended exemption from Income Tax under Section 10BA of I.T. Act, 1961, should be reintroduced covering all handicrafts products and exemption from Service Tax be also extended to merchant exporters and more importantly the name of EPCH should be included along with other Councils.

Mr. Raj Kumar Malhotra, Chairman, EPCH also recommended exemption from Service Tax while paying in any foreign currency including Indian rupees at the time of participating in international shows and also continuation of waiving of Service Tax on Membership Fee of the Council beyond March 31, 2010.

Chairman – EPCH has requested for announcement of more mega clusters namely Jodhpur (Rajasthan), Mysore-Channapatna(Karnataka), Puri (Orissa) and Ferozabad for development and promotion of handicrafts from these areas.

Mr. Malhotra demanded imports of tools required in the manufacture of handicrafts at nil rate of custom duty, pre and post shipment finance for 360 days be made available to exporters at 7 per cent, enlargement of the existing list of products is suggested including items of trimmings and embellishment needed by handicrafts exporters, Marketing Development Assistance (MDA) Scheme should be liberalized for direct participation in the international business exhibition for which they consider fit for their product.

The Council also suggested that the handicrafts items not elsewhere specified are eligible now under ''New Special Focus Products” scheme covering all new and innovative handicrafts items which came into effect only from August 27, 2009 in the Foreign Trade Policy 2009-14, should be applicable with retrospective effect from April 1, 2008 as the slowdown in exports started from that period.

The EPCH Chief also reiterated his demand to provide exemption from service tax both to exporters as well as export promotion councils and other export organizations in order to stimulate and diversify the country's export trade.

Export Promotion Council for Handicrafts


Must ReadView All

UK GDP growth to stay steady but subdued: CBI

Textiles | On 8th Dec 2017

UK GDP growth to stay steady but subdued: CBI

The gross domestic product (GDP) in the United Kingdom (UK) will grow ...

Amazon launches operations in Australia

Apparel/Garments | On 8th Dec 2017

Amazon launches operations in Australia

US online retail giant Amazon recently unveiled its business in...

Courtesy: G-III Apparel

Apparel/Garments | On 8th Dec 2017

Q3 FY18 G-III Apparel sales up 16% to $1.02 billion

For the third quarter of fiscal 2018, net sales of G-III Apparel...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Ashok Desai
Bombay Textile Research Association

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


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