Goa chamber of commerce & industry petitions finance ministry over pending issues

The author has posted comments on this articleVijay Desouza, TNN | Dec 29, 2013, 04.02AM IST

PANAJI: Goa chamber of commerce & industry (GCCI) on Saturday urged the Centre to make special provisions to give boost to the Goan economy which is affected by the closure of mining operations in the state and suggested extension of tax exemption under 80IB to new units to be set up in the state, particularly the backward talukas.

Goa's economic situation and the areas where the union finance ministry can chip in, were discussed by a GCCI delegation headed by its president Narayan Bandekar when it had a meeting with the newly appointed finance ministry Sumit Bose. A representation was also submitted to Bose.

The Chamber also suggested removal of inverted duty structure, virtual SEZ status for specific industries like IT, Electronics and Pharma and early implementation of GST. The Chamber recommended extention of Tax Holiday under section 80ID for tourism infrastructure projects like golf courses, theme parks, amusement parks etc to give a boost to the tourism industry.

While requesting the finance secretary to direct the banks to be more sympathetic to the mining related borrowers like truck / barge / machinery owners by offering them some relief till the mining activity resumes again, the Chamber also requested for concessions for mining service providers who have some service tax liabilities but are not able to discharge them as they have not been receiving payments of the bills raised by them.

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Goa chamber of commerce & industry petitions finance ministry over pending issues