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It is also considering easing of procedures for industry<\/a> such as anonymous assessments and speedier clearances, while taking steps to curb evasion.
Some of these measures could be announced in the budget for FY20 on July 5 as India looks to take advantage of companies wanting to diversify their global production and set up base in the country.
“There will be a review in respect of encouraging domestic manufacturing,” said a government official.
Policymakers are of the view that some exemptions on commodities and other items should be weeded out.
Sectors such as telecom, metals, batteries and chemicals for electric vehicles could see changes. The government had earlier imposed and enhanced duties on smartphones and telecom equipment. It is now expected to undertake a comprehensive review that could lead to the reduction of duties on some critical inputs used in the manufacture of phones while raising it on finished products to further encourage domestic manufacture of handsets.
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Vietnam has been able to woo a number of telecom companies from China and policymakers feel that now may be the right time to offer a conducive tax regime to such investors to set up shop in the country.
While a number of companies have established assembly lines, the government wants the entire manufacturing chain to be located in India.
Experts say any increase in duties would negate the impact of free trade agreements that levy zero duty on many products.
“Realigning exemptions to encourage Make in India is a step in right direction,” said Rahul Shukla, executive director, PwC. “However, imports under FTAs (free trade agreements) continue to have an impact on domestic industry.” Trade Facilitation Tops Agenda The government is also eyeing simplification of procedures for exporters and importers. The move to anonymous assessment is aimed at greater efficiency and transparency in functioning. Ease of doing business weighs high on the government’s agenda. The country jumped 23 points in the World Bank<\/a>’s last ease of doing business ranking to 77 and a push is on to enter the top 50.
Single-window clearance has already been put in place for traders. Measures to boost exports, including tax refunds, are also on the anvil. While enhancing facilitation, the government is also looking at tightening some provisions to check tax evasion. “Proposed faceless assessment in customs, hopefully, will increase the processing efficiencies and remove the physical interface and associated hassles,” said Shukla. An inverted structure is one in which the import duty on finished goods is lower than that on the materials or parts that go into making such a product, thus acting as a disincentive for local manufacture.
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它也在考虑放宽程序行业如匿名评估和更快的许可,而采取措施遏制逃税。
这些措施将在7月5日FY20预算印度看起来利用公司想要多样化的全球生产和建立基础。
“将会有一个审查的鼓励国内制造业,”一名政府官员说。
政策制定者认为,一些免税商品和其他物品应该被淘汰。
电信等行业、金属、电动汽车电池和化学物质能看到变化。政府早前对智能手机和电信设备和提高关税。现在将进行一个全面的检查,可能会导致关税的减少一些关键输入用于制造成品手机而提高,进一步鼓励国内生产的手机。
越南已经能够吸引大量来自中国的电信公司和决策者认为,现在可能是合适的时间提供一个有利的税收体制这样的投资者在中国开店。
虽然许多公司建立了生产线,政府希望整个制造链位于印度。
专家说增加关税会否定自由贸易协定的影响,税收零关税许多产品。
“重新调整免税鼓励使印度在正确方向迈出的一步,”Rahul Shukla说,执行董事,普华永道。“然而,进口在fta(自由贸易协定)继续对国内产业产生影响。“贸易便利化在议程的政府也关注简化程序出口商和进口商。搬到匿名评估的目的是提高效率和运作的透明度。缓解做生意的重量高政府的议程上。23点了世界银行的最后缓解做生意的排名为77,推动进入前50名。
单窗口间隙为交易员已经到位。促进出口的措施,包括退税,也在铁砧。而加强便利化,政府也在考虑收紧一些规定检查逃税。“提出的评估在海关,希望将会增加加工效率和删除物理接口和相关的麻烦,“Shukla说。倒置的结构是一个成品的进口关税低于材料或部分进入这样一个产品,因此作为抑制本地生产。
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