tax incentives

Analysis of Scheme of budgetary support under GST Regime

Excise Duty - ♠ The new scheme is offered, as a measure of goodwill, only to the units which were eligible for drawing benefits under the earlier excise duty exemption/refund schemes. ♠ All such notifications have ceased to apply w.e.f. 01.07.2017 and stands rescinded on 18.07.2017 vide Notification No. 21/2017-Central Excise dated 18.07.2017....

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Brief Analysis of Service Exports from India Scheme (SEIS)

Excise Duty - It not only replaces Served from India scheme (SFIS) available under the Foreign Trade Policy 20109-2014, but it rationalize the incentives under the erstwhile schemes, removes various kind of restrictions of use of scrip issued under the Scheme and significantly enlarges the scope of the earlier scheme. Unlike earlier Scheme, this scheme...

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All about Merchandise Exports from India Scheme (MEIS)

Excise Duty - Objective of Merchandise Exports from India Scheme (MEIS) is to offset infrastructural inefficiencies and associated costs involved in export of goods/products, which are produced /manufactured in India...

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Re-Export of Goods Imported Under Concessional Rate – Enjoy Double Benefit & Do Not Pay Duty

Excise Duty - A manufacturer can import capital goods under the provisions of IGCR. However, a situation may come where a manufacturer is required to re-export the imported capital goods may be “as such” or after using for some period. In such a case, a manufacturer needs to obtain permission from the Assistant / Deputy Commissioner of Central Exci...

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MAT provisions under direct tax code and its impact on tax liability

Excise Duty - MAT – Making Companies slim Ms. Kareena Kapoor style Introduction: 1.0 The objective of new Direct Tax Code (DTC) as stated in the Discussion Paper (DP) published are broadening the base, minimize exemptions, horizontal and vertical equity etc. Since the proposed DTC touches all the aspects of taxation of income of all the types of [&he...

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Govt. considering to provide tax benefit on Electronic Transactions

Excise Duty - Objectives Improve the ease of conducting transactions for an individual Build a transactions history to enable improved credit access and financial inclusion. Reduce the risks and costs of carrying cash at the individual level. Reduce costs of managing cash in the economy....

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Committee recommends tax incentives to revamp Export Oriented Unit (EOU) scheme

Excise Duty - A committee has recommended a host of tax incentives like exemption from customs duty, central excise and service tax to revamp the 30-year old Export Oriented Unit (EOU) scheme. After expiry of tax benefits for the EOUs, the government in February has set up a committee under the chairmanship of Development Commissioner, Noida SEZ, to re...

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85% Indian Companies want tax incentives to invest in energy-efficient or low-carbon equipments

Excise Duty - Majority of Indian companies feel tax incentives from the government are needed to accelerate adoption of energy-efficient business practices, according to a survey.According to the survey by workspace solutions provider Regus, though India has been criticised for its high emission levels, around 30 per cent companies here monitor their ...

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Fiscal deficit management and measures to push growth beyond 7% are likely to be top priority in Budget 2010-11

Excise Duty - What is evident in the CSO data for GDP growth and fiscal deficit forecast for the current year, it appears certain fiscal deficit management and measures to push growth beyond 7% will be on top of the agenda. This could mean policy makers shall take a hard look at concessions, an impact thereof on the macroeconomy and of course, strategi...

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ROC data will be used as input for key policy decisions

Excise Duty - The government will sift through the financial data filed by companies with the Registrar of Companies to get a better picture of their investments and expenditure, helping it get better inputs for key policy decisions such as tax incentives. Financial details submitted with the RoC will be aggregated under various parameters such as inve...

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DEPB and Duty Drawback are not eligible for deduction u/s 80-IB

M/s Liberty India Vs Commissioner of Income Tax (Supreme Court of India) - (1) The Act broadly provides for two types of tax incentives, namely, investment linked incentives and profit linked incentives. Ch VI-A essentially belongs to the category of “profit linked incentives” (2) When ss. 80-IA/80-IB refer to profits derived from eligible business, it is not the owner...

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Recent Posts in "tax incentives"

Analysis of Scheme of budgetary support under GST Regime

♠ The new scheme is offered, as a measure of goodwill, only to the units which were eligible for drawing benefits under the earlier excise duty exemption/refund schemes. ♠ All such notifications have ceased to apply w.e.f. 01.07.2017 and stands rescinded on 18.07.2017 vide Notification No. 21/2017-Central Excise dated 18.07.2017....

Read More
Posted Under: Income Tax |

Brief Analysis of Service Exports from India Scheme (SEIS)

It not only replaces Served from India scheme (SFIS) available under the Foreign Trade Policy 20109-2014, but it rationalize the incentives under the erstwhile schemes, removes various kind of restrictions of use of scrip issued under the Scheme and significantly enlarges the scope of the earlier scheme. Unlike earlier Scheme, this scheme...

Read More
Posted Under: Income Tax |

All about Merchandise Exports from India Scheme (MEIS)

Objective of Merchandise Exports from India Scheme (MEIS) is to offset infrastructural inefficiencies and associated costs involved in export of goods/products, which are produced /manufactured in India...

Read More
Posted Under: Income Tax |

Govt. considering to provide tax benefit on Electronic Transactions

Objectives Improve the ease of conducting transactions for an individual Build a transactions history to enable improved credit access and financial inclusion. Reduce the risks and costs of carrying cash at the individual level. Reduce costs of managing cash in the economy....

Read More
Posted Under: Income Tax |

Re-Export of Goods Imported Under Concessional Rate – Enjoy Double Benefit & Do Not Pay Duty

A manufacturer can import capital goods under the provisions of IGCR. However, a situation may come where a manufacturer is required to re-export the imported capital goods may be “as such” or after using for some period. In such a case, a manufacturer needs to obtain permission from the Assistant / Deputy Commissioner of Central Exci...

Read More
Posted Under: Income Tax |

Committee recommends tax incentives to revamp Export Oriented Unit (EOU) scheme

A committee has recommended a host of tax incentives like exemption from customs duty, central excise and service tax to revamp the 30-year old Export Oriented Unit (EOU) scheme. After expiry of tax benefits for the EOUs, the government in February has set up a committee under the chairmanship of Development Commissioner, Noida SEZ, to re...

Read More
Posted Under: Income Tax |

85% Indian Companies want tax incentives to invest in energy-efficient or low-carbon equipments

Majority of Indian companies feel tax incentives from the government are needed to accelerate adoption of energy-efficient business practices, according to a survey.According to the survey by workspace solutions provider Regus, though India has been criticised for its high emission levels, around 30 per cent companies here monitor their ...

Read More
Posted Under: Income Tax |

Fiscal deficit management and measures to push growth beyond 7% are likely to be top priority in Budget 2010-11

What is evident in the CSO data for GDP growth and fiscal deficit forecast for the current year, it appears certain fiscal deficit management and measures to push growth beyond 7% will be on top of the agenda. This could mean policy makers shall take a hard look at concessions, an impact thereof on the macroeconomy and of course, strategi...

Read More
Posted Under: Income Tax |

ROC data will be used as input for key policy decisions

The government will sift through the financial data filed by companies with the Registrar of Companies to get a better picture of their investments and expenditure, helping it get better inputs for key policy decisions such as tax incentives. Financial details submitted with the RoC will be aggregated under various parameters such as inve...

Read More
Posted Under: Income Tax |

Commerce minister recommended extension of special industrial package to the Himachal Pradesh up to 2013

Himachal Pradesh chief minister Prem Kumar Dhumal on Monday said commerce and industry minister Anand Sharma has recommended extending special industrial package to the state up to 2013. Dhumal met Sharma on Monday to lobby for the extension of tax benefits enjoyed by industrial units in the state, which was to expire on March 2010....

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Posted Under: Income Tax |
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