The GST regime will facilitate ease of doing business, but the government has to ensure that there is no adversarial impact on the infrastructure sector during the rollout, says PRATIK JAIN.
The Central Board of Excise and Customs issued a notification clarifying that parts such as tower, nacelle, rotor, blades and wind turbine controller of wind operated electricity generators are eligible for exemption from excise duty.
There is a delay in the upgradation of the land customs station at Petrapole, West Bengal, which accounts for more than half of the bilateral trade between India and Bangladesh, owing to impediments in land acquisition. The check post will offer customs and other clearances required to export goods and will reduce the time taken for the movement of cross-border consignments. This information was given by Amit Kumar Roy, commissioner of customs (preventive) at a Bengal National Chamber of Commerc
Lack of proper policy for aircraft maintenance, repair and overhaul (MRO) is hampering the development of the sector in the country, reports indicate. India is said to be having tremendous growth prospect in the MRO segment and hence industry body ASSOCHAM called for streamlining of taxes to encourage aviat
Shipping Corporation of India (SCI) plans to spend
Rs 1,939 crore during 2013-14, far less than Rs 2,497 crore spent in 2012-13, Union budget documents shows. The investment would be financed through internal and extra budgetary resources. Sunil Thapar, director-bulk and tanker division, SCI said the company wants to cons
Anil Devli, Chief Executive Officer of Indian National Ship Owners Association informed that the removal of excise and countervailing duty (CVD) is a big boost to the shipbuilders. He said the move would see more ships being built in India now. The Rs 300-crore subsidy will increase the cash flow, Dhananjay Datar, group Chief Financial officer, ABG Shipyard, said
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
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