PwC India has suggested the government to give some tax benefits to the oil and gas sector. Deepak Mahurkar, Leader Oil & Gas, PwC India recommended the government to make all petroleum sector transactions eligible for classical GST benefit. He proposed the government to include natural gas and coal bed methane in the 'mineral oil' category, in order to q
Tag: budget
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SIMA seeks hike in customs duty on sponge iron
Sponge Iron Manufacturers Association (SIMA), in a pre-Budget memorandum, urged the government to raise customs duty on sponge iron to 10 per cent from the current level of 5 per cent in the union budget 2013-14. The association wants the government to raise duty in order to reduce the rising import of sponge iron. The indu
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Ministry proposes 50% grant for dredging projects
The union shipping ministry made a proposal to give up to 50 per cent of the capital dredging costs of ports as grants from the centre. Currently, there are no standard norms for budgetary support for dredging to ports. As a result, some ports get budgetary support, while some fund dredging from thei
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SIMA seeks imposition of duty on scrap import
In its pre-Budget memorandum, the Sponge Iron Manufacturers Association (SIMA) urged government to discourage huge import of steel scrap, which is killing Indian sponge iron industry. The association wants the government raise basic customs duty on steel melting scrap from 0 to 10 per cent in Budget 2013 to discourage its
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SIMA seeks imposition of duty on scrap import
In its pre-Budget memorandum, the Sponge Iron Manufacturers Association (SIMA) urged government to discourage huge import of steel scrap, which is killing Indian sponge iron industry. The association wants the government raise basic customs duty on steel melting scrap from 0 to 10 per cent in Budget 2013 to discourage its
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Ministry proposes 50% grant for dredging projects
The union shipping ministry made a proposal to give up to 50 per cent of the capital dredging costs of ports as grants from the centre. Currently, there are no standard norms for budgetary support for dredging to ports. As a result, some ports get budgetary support, while some fund dredging from thei
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Experts call for novel funding model for infra sector
Experts suggest government to come out with innovative financing model for funding infrastructure sector during the 2012-13 union budget. Two years ago, the government introduced infrastructure debt fund (IDF) for channelising long term fund into the sector. IDF may be set up as mutual fund under the trust model or as
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Bihar to bring in road maintenance policy
In its next budget, the Bihar government may come up with a separate policy on road maintenance in the next budget. The government's move is by keeping in view the maintenance of all roads built during the last seven years.
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Industry body calls for cut in import duty
Metal Container Manufacturers' Association suggested the union finance ministry to reduce the import duty on prime tinplate from 7.5 per cent to 5 per cent. The association said this in a pre-Budget memorandum. It argues that the industry has not been able to make major investments for modernisation as the fund
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Govt plans to reintroduce import duty on oil
Union government plans to reintroduce import duty on crude oil in the forthcoming union budget in order to increase its tax collection and thereby reduce fiscal deficit. However, the adverse impact of such a move would be that it would raise the price of oil and could leave the government with a higher subsidy bill if pump prices are not r