The Hindu Business Line : EOU body presents pre-budget wishlist

A DELEGATION led by the Chairman of the Export Promotion Council for Export-Oriented Units and Special Economic Zone (EPCES) met the Union Commerce & Industry Minister, Mr Kamal Nath, to present pre-Budget and pre-Exim Policy memorandum, demanding policy support for the balanced growth of the sector.

In their memorandum, the Chairman, EPCES, Mr Sharad Jaipuria, pleaded to do away with Sunset Clause of 2010 under Section 10B of the Income Tax Act for EOUs, since as per the extant provisions, income-tax exemption is available only until financial year 2009.

He also noted that domestic tariff area (DTA) sale from EOUs should be allowed based on the norm of duty foregone on imported inputs. Duty foregone could be arrived at on the basis of standard input-output norms on self-declaration basis, he said adding that EOU and SEZ units should be freely allowed to purchase power from Central Government agencies like NTPC at competitive rates without additional cost of wheeling charges and cross subsidy.

The Director-General, EPCES, Mr L.B. Singhal, demanded fast-track clearance for EOUs so that established units could focus on their exports without any hindrance. Timeframe needs to be prescribed for every activity, which is being performed, by customs and central excise field formations.

More Stories on : Budget | Exports & Imports

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
EOU body presents pre-budget wishlist

Allow banks to develop gold-backed products: WGC

`Indian companies will gain from China foray'

AP unfazed by World Bank remarks on free power

BHEL develops bowl mill for thermal stations

Coimbatore textile institute inaugurated

`Promotional package for SSI sector soon'

Bike owners' upgrade to drive compact car sales

Modest spurt in apparel exports in April-May

Karnataka may give further thrust to biotech sector

18 young scientists to meet Nobel Laureates

Assocham opposes hike in EPF rate

Got an interview call? Travel by train at 50 pc discount

Chief Ministers' conclave to focus on Panchayati Raj

UAE to implement new regulation for cos recruiting expatriate labour