• Posted on: 5 May 2016
  • By: admin

*Investment allowance at the rate of 15 % to a manufacturing company that invests more than Rs. 25 crore in any year in new plant and machinery. The benefit to be available for three years i.e. for investments upto 31.03.2017, so as to incentivize entrepreneurs in manufacturing sector.

·        *The period of applicability of reduced rate of tax at 5% in respect of income of foreign investors (FII and QFI) from corporate bonds and government securities, has been extended from 31.05.2015 to 30.06.2017.

  *   Excise Duty was exempted on inputs required for operated electricity generators and Solar PV ribbon for manufacture of Solar PV cells. Also Excise Duty was reduced on certain inputs required for manufacture of integrated circuit (IC ) modules for smart cards and LED drivers and MCPCB for LED lights, fixtures and LED lamps.

·         Basis Customs Duty and Excise Duty was exempted on specified bunker fuels for use in Indian Flag vessels for carrying export-import (EXIM) containers, empty containers and domestic containerized cargo.

  Special Notified Zone for trading of rough diamonds: Consequent to Hon’ble Prime Minister’s announcement to make India into a hub for trading of rough diamonds, a ‘Special Notified Zone’ was operationalised at Bharat Diamond Bourse at Mumbai. The procedure envisages major diamond mining companies bringing in rough diamonds for display and/or auctions to be conducted within the Customs area and re-exporting the unsold consignments.