Latest news with #BizzBuzz
Hans India
7 days ago
- Business
- Hans India
AP govt plans to develop 10 large industrial parks
Vijayawada: The Andhra Pradesh government has decided to develop large industrial parks at 10 locations spread over the State by offering land by AP Industrial Infrastructure Corporation (APIIC) under PPP model. This is the first time the State has taken up development of large industrial parks through PPP mode by inviting bids through a notification for development, operation and maintenance of large industrial parks each in an area measuring 290 to 500 acres. A senior official of APIIC told Bizz Buzz that little over 4,000 acres has been identified for allotment in areas close to the Visakhapatnam-Chennai Industrial Corridor (VCIC) and Chennai-Bengaluru Industrial Corridor. Different industrial nodes mooted under the corridors are located in the vicinity of the proposed industrial parks. June 6 has been set as the deadline for submission of bids for Expression of Interest (EoI). The parks are proposed at Atchutapuram, Thimmasamudram, Kosalanagaram, Guttapadu, Komarolu, Jayanthipuram, Kothapalli, Donakonda, Santhabommaliand RouthuSuramala Industrial Clusters. The authorities propose to develop sector-specific parks to promote investments in biotechnology, pharmaceutical, toy, electric vehicles, semiconductor, defense and aerospace, food processing, agro-processing and aqua- processing, leather, textiles, specific products and parks for downstream industries of evolving needs and drone manufacturing industries.
Hans India
21-05-2025
- Business
- Hans India
Exporters: Focus on e-com hurdles
Mumbai: Persistent hurdles in the Export Data Processing and Monitoring System (EDPMS) could limit the growth—especially for MSMEs and new-age exporters, warn industry experts. It is happening at a time when India's e-commerce exports are poised to contribute significantly to the country's ambitious $1 trillion export target by 2030. A recent policy paper warns that unless these issues are addressed urgently, India's digital trade momentum could stall. The relaxed compliance for shipping bills under $1000 deadline upto March 2025has been further extended upto September 2025. Speaking to Bizz Buzz, M Narendra, former CMD of Indian Overseas Bank, says, 'The charges being levied by the banks for shipment below $1000 should be either minimal or it could be subsidised by special incentive package from government to promote e commerce digital shipments.
Hans India
09-05-2025
- Business
- Hans India
I-T dept slaps 1% TCS on select luxury goods
Mumbai: The Income-Tax Department has issued a notice stating that 1 per cent TCS (tax collected at source) will be imposed on sale of certain luxury goods priced above Rs 10 lakh effective from April move is a strategic step towards enhancing tax transparency and tracking high-value consumption trend. Talking to Bizz Buzz, Samir Jani, president, All India Federation of Tax Practitioners says, 'The I-T Dept would be mapping on expenditure.' If you are buying items above Rs10 lakh and not showing the same in your I-T Return, then the Dept can catch hold of you. However, there will not be any problem with the honest taxpayers, he said. Effective April 22, the levy applies to notified products exceeding Rs10 lakh in value with tax applicable on the full transaction amount in excess of Rs10 lakhs. Munjal Almoula, head of tax, BDO India says: 'The much-anticipated notification on TCS on luxury goods brings clarity on scope and thresholds.' This move is a strategic step towards enhancing tax transparency and tracking high-value consumption trends, a move that aligns with global trends in tax surveillance and tax transparency, he said. In fact, 1% TCS had already been implemented. The only thing that new items have come under its ambit now.
