Aviation industry lobby group seeks incentives for the sector
Airports Council International has sought suspension of all national and local aviation-specific taxes until December 31, including passenger departing taxes and revenue share payment made by private airport operators, and a moratorium on new national and local aviation-specific taxes until December 31.
Piyush Goyal proposes to discontinue export incentives for services exports under SEIS
"So, I am proposing that from the earliest opportunity...
Electronics exports: Budget may retain MEIS incentive
The MEIS scheme was found to violate the World Trade Organization rules as it was expor...
Covid lockdown: Retailers offer incentives to staff to keep operations normal
Two industry executives said union commerce minister Piyush Goyal had told all leading retail chains and e-commerce firms on Thursday’s video-conferencing meeting that they have to motivate their workforce to work so that consumers are not inconvenienced. Goyal has also apparently said that the companies cannot call back the labour that has gone back to their native places.
Manufacturing incentives scheme created 1,20,000 jobs so far: R S Prasad
The scheme provides subsidy on capital expenditure in the range of 20-25%. Under the Scheme, 397 proposals have been received so far out of which 252 proposals worth Rs. 72,048 crore have been approved while 145 proposals worth Rs. 36,076 crore are under appraisal. "As on date, incentives of Rs.897.07crore have been disbursed to 71 applicants," Prasad said.
Incentives scheme on cards to give impetus to API manufacturing
The Department of Pharmaceuticals (DoP) has proposed creation of a corpus fund of Rs 3,000 crore for companies that are interested in setting up API or fermentation units in India, people in the know told ET.
Government notifies three incentives schemes worth Rs 48,000 crore for electronics manufacturing push
For domestic mobile phone companies, the investment threshold is Rs. 200 crore over four years and sales criteria is Rs. 5000 crore in five years and for components it is Rs. 100 crore for 4 years and Rs. 600 crore of sales in 5 years.
Government notifies three schemes worth Rs 48,000 crore for electronic makers
According to the notification, companies that make phones priced at Rs 15,000 and above and which make a cumulative investment of Rs 1,000 crore over four years, starting with Rs 250 crore in the first year, will qualify for an incentive of 6% for the first two years, followed by 5% for the next two and 4% in the fifth year.
Department of Pharma proposes Rs 10,000-crore incentive scheme for promoting domestic API units
The proposal is likely to be put before the union cabinet tomorrow, people in the know told ET. Under the proposal, the government will provide financial incentive to those pharma companies ready to invest Rs 500 crore in an existing or new plant.
Mobile exports will continue to get 4% incentive
The additional ad hoc incentive of 2 per cent under the Merchandise Exports from India Scheme (MIES) will be available for exports of mobiles from January 1 to March 31, 2020, period, the notification by the Directorate General of Foreign Trade said.
Better incentives spike Ola driver logins by 10%
New structure, with average take rate of 20% for firm, gives drivers transparent view of earnings.
Reduction of handset export incentives to 2 per cent will lead to massive job losses: ICEA
ICEA said discussions have been going around between the industry and the government for the past three months to replace the Merchandise Exports from India Scheme with a WTO-compliant scheme but the Director General of Foreign Trade surprisingly notified downward revision of the export incentive.
Exports of 1,945 products to US grow by 5 per cent in June-December sans GSP incentives
"India's exports to the US, which were under the GSP lines have shown an increase of 5 per cent in the period of June-December 2019 as compared to the corresponding period of previous year i.e., from June-December 2018 (USD 5.2 billion), when GSP benefits were there," Commerce and Industry Minister Piyush Goyal said in a written reply to the Rajya Sabha.
Covid-19 impact: Tax and duty relief likely in package for industry
The second relief package may include tax concessions for industry sectors hit hard by Covid-19.
View: It is time for states to step up and provide the much-needed covid relief
GoI and RBI have responded by notifying certain measures. Finance minister Nirmala Sitharaman announced compliance forbearance under different tax laws, including a few tax payment deadlines.
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