IEEMA seeks extended tax holiday for power projects
The Indian Electrical and Electronics Manufacturers Association (IEEMA) demanded extension of tax exemption to all power projects in line with other infrastructure projects like roads, airports, ports, railways, a press note from the body said today.
"The electrical equipment manufacturing industry suffers a substantial cost disadvantage of 14 percent vis-a-vis imports due to the levy of several local taxes," IEEMA president Ramesh Chandak said.
He said the government should provide a level-playing field to domestic manufacturers as per the recommendations of the Arun Maira committee by levying customs duty at 10 percent and special additional duty (SAD) at 4 percent and waiving of the countervailing duty (CVD) on all categories of power projects.
Watch the footage of the Indian Union Budget 2013-14 presented by Finance Minister P Chidambaram on February 28.
Date 28-02-13, Duration 1:45:24, Views 122
Mumbai Police rejected Chennai Super Kings (CSK) boss Gurunath Meiyappan's plea to give him time till May 27 to appear before its crime branch for questioning with regard to his role in betting and spot fixing in the current edition of the IPL.
Date 23-05-13, Duration 1:44, Views 79