• Linkdin

Pre-Budget Proposals 2011-12 from ITAMMA

15 Feb '11
2 min read

Indian Textile Accessories & Machinery Manufacturers' Association (ITAMMA) submits Pre-Budget Memorandum for 2011-12.

FISCAL REFORMS

I) EXCISE DUTY

• Excise duty on all items of textile machinery at 8%, there should be no exemption
• Excise duty on all parts, components and accessories of the textile machinery should be less than complete machinery i.e. at the level of 4%.

II) CUSTOMS DUTY :

• Floor level of customs duty on capital goods should be at 7.5%.
• The rate of duty on raw-materials, parts, components & accessories should be less than that on complete machinery, in general, at least to 5%.
• Reduce import duty on dedicated parts, components and accessories of shuttleless looms & other hi-tech machines which are not made in India so far, from 5% to zero duty.

III) POLICY MATTERS :

• Uniform treatment to the domestic suppliers of machinery to EPCG licence holders and 100% EOU as both are Deemed Export.
• Imported second-hand textile machinery should not be given subsidy under the Technology Upgradation Fund Scheme and its derivatives namely 20% CLCS and 15% CLCS Scheme, in the name of modernisation
• Ban on import of second-hand shuttleless looms with weft insertion rate less than 750 mtrs. per minute.
• Tax break for a period 5 years for any unit manufacturing hi-tech item of textile machinery with or without foreign collaboration.

IV) SCHEMES :

• Scheme for modernisation, technology upgradation and productivity advancement of the Textile Engineering Industry (TEI)
• Schemes to support with 100% Grant-in-aid for Research & Development in the Textile Engineering Industry.
• Schemes to support setting up of CFCs and one Cluster Park in Surat, Ahmedbad and Coimbatore and one CFC at Kolkata for Manufacture of Jute machinery with 75% financial aid for the TEI as there is need for development and manufacture hi-tech machinery in weaving, processing and technical textiles/jute sector.

The Indian Textile Accessories & Machinery Manufacturers' Association [Formerly: Association of Merchants & Manufacturers of Textile Stores & Machinery (India)] was established in the year 1943. It was then a body representing importers of textile machinery and mill stores as there was no manufacture of these items at that time.

Indian Textile Accessories & Machinery Manufacturers' Association (ITAMMA)

Leave your Comments

Esteemed Clients

Woolmark Services India Pvt. Ltd.
Weitmann & Konrad GmbH & Co. KG
VNU Exhibitions Asia
USTER
UBM China (Shanghai)
Tuyap Tum Fuarcilik Yapim A.S.
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
X
Advanced Search