India showed a decline of 8.19 percent in U.S. dollars for textile and clothing exports, according to provisional data from the Directorate General of Commercial Intelligence and Statistics. The Indian government instituted two stimulus packages to help the sector in December 2008 and January 2009. Imports of clothing and textiles to the U.S. from the top five trade countries ...
The Delhi Exporters Association (DEA) has presented a five-point action plan for the revival of exports.The plan was proposed as a reaction to specific concerns that were not addressed in the budget earlier this month. The plan targets bringing down transaction costs to make exports more competitive, Mr. S.P. Agarwal, President of the DEA, told the SME Times. ...
Investment-linked tax incentive scheme for farm produce cold stores and warehouses
By
Biz2Credit Advisor
The Finance Minister announced an investment-linked tax incentive scheme for farm produce and warehouses in the Union Budget. The scheme proposes that all capital expenditure to build and operate such facilities would be fully eligible for small business tax deductions. Business expenditures on land, goodwill and financial instruments would not be eligible for the deductions, said LiveMint.com. The ...
The world's wealthiest and most industrialized countries (G8) joined hands with the emerging economies (G5) to reject protectionist measures in trade and investment. The declaration will be followed by negotiations and exploration of possible modes of direct engagement within the World Trade Organization (WTO), according to the SME Times. Besides the G8 acceding to the G5 demands for ...
The Union Budget gives some small businesses the benefit of not paying advance taxes in the 2010-11 fiscal year. Businesses with an annual turnover of less than Rs 40 lakh have the option to not maintain their books of accounts and pay a fixed income tax of 8 percent of their revenue, said the SME Times. Other positive ...
