FIEO bags FKCCI Award (Gold)
|
For the 3rd year in a row, the Federation of Karnataka Chamber of Commerce & Industry (FKCCI) awarded FIEO as the Best Export Facilitation Organisation in Karnataka. SSI & Sericulture Minister of Karnataka Mr. Venkataramanappa gave away the award to FIEO for the year 2008-09 at a ceremony organized in Bangalore on 20th June. FIEO Managing Committee Member Mr. T V Maruthi received the award on behalf of FIEO. FIEO scored the highest points among 24 export facilitation organisations operating in Karnataka in a poll organized by the Chamber amongst the exporters in Karnataka. During the ceremony, top exporters in Karnataka were also awarded for various product categories. |
 |
|
Mr. T V Maruthi, Member Managing Committee of FIEO (right) receiving the award on behalf of FIEO from Mr. Venkataramanappa, Hon’ble Minister of SSI & Sericulture, Government of Karnataka. Others from left, Mr. D Muralidhar, President, Elect, FKCCI; Mr. Pardeep Kumar Khoshla, General Manager, Mid Corporte, SBI, Bangalore; Mr. R.C. Purohit, Past President, FKCCI; Mr. S S Patil, President, FKCCI; and Mr. J Crasta, Vice P resident, FKCCI. |
FIEO Chief urges immediate refund of service tax
In a recent meeting with Finance Secretary and Member (Customs) Dr. D. Subba Rao in New Delhi, FIEO President Mr. Ganesh Kumar Gupta informed that despite government announcement of refund of tax on 19 services relating to exports, no refund of said taxes had been reimbursed to exporters so far. Moreover, claiming refund of service tax is cumbersome since the tax is paid to service tax authorities but the refund is to be claimed from central excise, he added. FIEO Chief requested the Revenue Secretary to immediately arrange reimbursement of pending refunds and simplify the refund procedure.
FIEO Chief also requested for withdrawal of MAT to attract new investments in Special Economic Zones. He said: "While section 10 A of Income Tax Act allows 10 percent deduction of exports profit for the first five years and 50 percent for the next five years besides an additional deduction of 50 percent of the reinvested profits for further five years, the imposition of MAT under section 115 JB of IT Act @12.5% on units in Special Economic Zones may adversely affect new enterprises in such zones."
|
|
|
|
From left, Mr. Ajay Sahai, Director General, FIEO; Mr. Ganesh Kumar Gupta, President, FIEO; Mr O P Garg, Past President, FIEO; Dr. D Subba Rao, Finance Secretary and Mr. D K Kapila, Member, FIEO Managing Committee. |
From left, Mr. O P Garg, Past President, FIEO; Mr. Ganesh Kumar Gupta, President, FIEO; Mr J C Batra, Member(Customs), and Mr. Ajay Sahai, Director General, FIEO. |
