A bunch of regulatory and administrative issues is scuttling the growth of pharma exports, according to the federation of pharmaceutical and allied products merchant exporters (FPME).
The association has flagged the concerns to finance ministry, the Central Board of Indirect Taxes and Customs and other government bodies on the challenges being faced by the exporters.
According to the exporters, section 43B(h) of the Income Tax Act, which came into effect in April 2024, has severely impacted the cash cycle of exporters. This section mandates the companies to pay their suppliers registered as micro, small and medium enterprises (MSMEs) within 45 days to qualify for tax deductions.
Esta historia es de la edición December 12, 2024 de Financial Express Kolkata.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 12, 2024 de Financial Express Kolkata.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Markets slump over 1%
● Investors' wealth down ₹4.92 lakh cr
EPFO weighs higher equity investments
● Labour ministry panel to look at ways to raise exposure
Indian firms turn to euro, yen swaps to trim borrowing cost
INDIAN FIRMS ARE opting for cross-currency swaps to convert part of their debt into the euro or the Japanese yen in order to trim borrowing costs, said bankers.
IIT-Madras to offer fine arts, culture courses
IN A FIRST for Indian Institutes of Technology (IITs), IIT-Madras on Tuesday said it would offer two supernumerary seats in each undergraduate programme to students who have achieved excellence in fine arts and culture, starting from the upcoming academic session.
Not even 2% work-linked higher education courses yet: Report
EVEN AS ASSORTED government schemes are a national skill mission aiming to make India's workforce more employable, the latest TeamLease EdTech survey has revealed that barely 2% of the higher education institutions (HEIs) in the country are offering degrees that are work-linked.
The world's busiest airline routes in 2024 are largely in Asia
● Leisure continues to outshine corporate trips
Indian firms use euro, yen swaps
ECB president Christine Lagarde hinted at a bigger 50 basis point rate cut to buffer the euro zone economy
SME IPOs fetch rich returns in Dec
THE SME IPO market continues to see heightened interest and is delivering multibagger returns despite being under the lens of the markets regulator.
EPFO weighs higher equity investments
IN FY23, the interest rate was fixed at 8.15% and 8.10% in FY22.
KYC masking to go live on Jan 20
IN A MOVE that provides relief to financial institutions, the Central KYC Records Registry has extended the deadline for masking Know Your Customer (KYC) documents to January 20 next year.
