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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


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