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| Budget Wishlist: Export |
| BS Reporter / New Delhi Jun 15, 2009, 21:09 IST |
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CEOSPEAK: A Sakthivel, President, Federation of Indian Export Organisations
TAX HOLIDAY, GST ROLLOUT: NEED OF THE HOUR
Exporters are facing one of their worst periods. We would like to see faster implementation of GST. Also, exporters need restoration of income tax benefits, which were taken away. Additionally, the EOU and STPI schemes should be extended for at least three years.
Chamber-Speak
FICCI
It is imperative to remove and streamline procedural impediments, infrastructure bottlenecks and labour market regulations, extend tax holiday benefits for EOUs, STPIs and undertakings in FTZs for another five years, revive temporarily Section 80-HHC to tide over the current difficulties precipitated by global financial downturn, exempt exporters from payment of service tax, as also expedite reimbursement of their tax claims such as VAT, FBT etc.
CII
Long-term loans at concessional rates for exporters with good track record will go a long way in encouraging the sector. There should be emphasis on building partnerships with African and Latin American countries. We support GST at 12 per cent.
EXPERT VIEW: R Muralidharan, Executive Director, Tax and Regulatory Services, PricewaterhouseCoopers
The Budget should address specific areas of criticality to exporters like neutralisation of the state/local taxes borne by exporters, elimination of fringe benefit tax, extension of tax holiday for the STPI units, prompt refund of input service taxes, and relief measures for sectors like textiles, leather, gems and jewellery, among others.
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