Mr D P S Kohli, Chairman, Koutons Retail India, asserted, “Service tax on commercial rents should be abolished as rental is part of income, without any value additions and no point in taxing it again. It's a major cost for-the retail industry.
Service tax paid on logistics should be adjustable with same on rents. Further, Vat should be uniform all over India with no further taxes imposed by the individual states such as octroi, entry tax, turnover taxes and free movement of goods all over India without any hindrances of C-Forms/F-Forms. Corporate taxes should be lowered and most importantly, infrastructure and labour laws should be improved.”
Mr Sachin Gupta, Director, Bodycare International Ltd, manufacturer of intimate wear, opined, “Reformations of labour law, providing adequate infrastructure to industry at affordable prices are utmost requirement of the moment. Further, Import Duty cut specially on Capital Goods and Raw Material will quite add to the competitiveness. The cut in Income Tax Rate is something which entire corporate world is looking forward to.”
Gujarat Ambuja Exports Ltd engaged in manufacturing of 100 percent cotton yarn also participated in this earnest attempt of Fibre2fashion. Mr Vijay Kumar Gupta, Chairman and Managing Director, asserted, “Government should enhance DEPB rates for ring spinning cotton yarn from 3 to 6 percent and drawback credit for ring spinning cotton yarn should be raised from 6 to 8 percent. Under this scheme, at present the value cap is Rs12 per Kg. The value cap should be increased to Rs15 per Kg.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
