Tuesday, Apr 16 2024 | Time 22:53 Hrs(IST)
image
Business EconomyPosted at: Dec 25 2021 8:15PM


CII proposes consistency in tax laws among measures to boost manufacturing competitiveness

New Delhi, Dec 25 (UNI) As government readies Budget for FY23 and take inputs directly from top CEOs to remove irritants in the way of India becoming global manufacturing hub, leading industry body Confederation of Indian Industry (CII) has suggested a slew of measure to boost competitiveness in the sector.
In its pre-Budget recommendation, the industry body has proposed to speed up digitisation of court procedures, facilitate publication of model contract templates and promote alternative dispute resolution mechanism.
Creating dedicated benches of the National Company Law Tribunal (NCLT) for matters related to Insolvency and Bankruptcy Code (IBC) is also one of the key recommendations.
It has also called for strengthening of logistics and related infrastructure besides reducing dwell time across all major ports and customs.
Further, the industry body has also suggested to encourage membership to the authorised economic operator (AEO) programme which carries several benefits for industry.
The CII has also proposed to revamp cost of electricity supply from the grid to reduce costs.
"Standalone captive generators should not be penalized with electricity duty etc," it has said.
The industry body has proposed to constitute an Expert Committee to study conflicts/non-harmonious provisions and suggest necessary amendments to bring consistency in tax laws.
"The committee would address issues such as the provisions of Income-tax Act not being in harmony with the provisions of SEBI laws, Company Law, FEMA, etc," it has noted.
UNI NK SHK2015
Please log in to get detailed story.
Tags: #CII proposes consistency in tax laws among measures to boost manufacturing competitiveness
More News

Airtel delivers best video experience in AP : Open Signal

16 Apr 2024 | 8:54 PM

Visakhapatnam, April 16 (UNI) Open Signal, the independent global standards for network and subscriber insights has awarded Bharti Airtel, the best video experience on 5G network in Andhra Pradesh telecom circle.

see more..

The Sleep opens 8th store in Hyderabad; 75th outlet in India

16 Apr 2024 | 8:50 PM

Hyderabad, Apr 16 (UNI) The Sleep Company, India’s leading comfort-tech brand, on Tuesday announced the opening of its eighth outlet in Hyderabad and 75th store in India.

see more..

CBDT signs 125 APAs in FY24, gives push to ease of doing biz

16 Apr 2024 | 7:58 PM

New Delhi, April 16 (UNI) In a bid to provide investor-friendly tax regime and promote ease of doing business, the Central Board of Direct Taxes (CBDT) signed 125 Advance Pricing Agreements (APAs) with Indian taxpayers in the financial year 2023-24.

see more..

Heritage Foods partner with SIG to package its beverages in aseptic carton packs

16 Apr 2024 | 6:19 PM

Hyderabd Apr 16 (UNI) Heritage Foods Limited, India's second largest private dairy, on Tuesday said it has partnered with SIG to package its beverages in aseptic carton packs.

see more..

Airtel celebrates 5 9 mn 5G customers in TN

16 Apr 2024 | 6:11 PM

Chennai, Apr 16 (UNI) Bharti Airtel (Airtel), one of India’s leading telecommunications service providers, on Tuesday announced that it has 5.9 million customers enjoying 5G service in the state of Tamil Nadu.

see more..
image