SFIS licenses should be transferable | Budget 2013-14

CBDT  
Applicability of MAT on companies during tax holiday Re-introduction of sec 10(23 g) so that interest is tax free to lenders of infrastructure projects Currently port services are considered as 'technical services' and thus fall under 194J for TDS purposes. Both 'port services' as well as 'revenue share' should fall under 194C.

CBEC

Presently no cenvat credit is available for purchase of diesel
– Extend cenvat credit for purchase of HSD used for port terminal operations 
SFIS license to be used to offset full customs/excise liabilities including SAD 
Capital goods for port construction attract customs duty whereas for road construction are exempted 
Clarity required on Service tax exemption on

–    Port construction activities (definition of 'original works not clear – notification no. 25/2012-ST dt. 20/6/12)

–    Royalty payments made by port/terminal operators

–    Cargo handling services provided within a port

–    Dredging – land excavation does not attract service tax 

 
FTP (MoC/DGFT)

Full earnings received from services rendered to foreign shipping lines should be eligible for SFIS or redemption of export obligation/other benefits under FTP, irrespective of whether loading of export cargo or discharge of import cargo and currency of invoicing.

SFIS licenses should be freely transferable – currently only within group companies but to establish group entities is very cumbersome)

Validity of SFIS licenses should be increased from the present 18 months to 24 months.