Hike Excise Duty Cut Corporate Tax Day Industrialists

The main expectations of city industrialists and businessmen from the coming union budget is a hike in the excise duty limit, taking it up to to Rs5 crore and a reduction of corporate tax from 30% to 20%. Introduction of goods and services tax (GST) has also been demanded along with monitoring of the present schemes by finance ministry. workmans comp questions, as it is sometimes known, does two important things for the safety of workers. First, it provides companies incentive to make certain the most safeguards as possible are installed during work. As mentioned, worker’s compensation can be very costly for a company an avoiding paying is a top priority. Thus, works compensation gives them incentive to provide workers tradie uniforms and a safe environment. Second, it gives works a safety net should they be the unfortunate victim of an accident. If a construction worker is disabled on the job they are usually left out of work an absent workers comp, would be unable to pay their bills. This would be particularly devastating for the families of these victims who often rely on these workers to pay for bills. Law Offices of Jerry Nicholson, A Professional Corporation can help with all the legalities in case there is a problem.

In the unfortunate event that an accident happens on the job and you are injured, you may be entitled to pursue workers compensation to help pay for medical care and lost wages as a result of your injury, as can be understood from this source article. When you begin seeking a claim, information is everything. You will need to research information on attorneys in your area. Additionally, you will also have to compile all your personal information for your case including medical records, copies of emails and letters relating to your injury, and correspondence with your attorneys. It is vital to have all this information to properly process a claim. Here you can find this more information about the workers compensation attorney.

In cases when the employee suffers from permanent disability, the services of a workers’ compensation attorney become more necessary. This is especially true when the employer refuses to give financial assistance to the employee. The workers’ compensation attorney should be the one to inform the employee of his or her rights and assist him or her in speeding up the litigation process. Workers’ compensation attorneys usually get 10-15% of the total compensation received by their client.

MIDC Industries Association president, Chandramohan Randheer said, “With increase in cost of inputs for industry, Rs1.5 crore is now nothing. The government should announce relaxation in labour laws. Laying off workers should be made easier but compensation should be increased.”

Butibori Industries Association (BIA) president, Nitin Lonkar, said that labour laws should be relaxed for SMEs. “Government has announced collateral free loans for SMEs but banks don’t provide us the same. SIDBI has been appointed as the nodal agency for this purpose. SIDBI clears our applications but banks still demand collateral,” he said.
The BIA chief also supported a hike in excise duty, saying, “It is very inconvenient for a small entrepreneur to maintain excise records and employ a person for this purpose.”

The government should provide incentives to make solar energy cheaper. It should provide space in industrial areas for industrial associations to install solar panels and meet part of power requirement through solar energy. Manufacture and use of energy efficient products should be incentivized, he opined.

VIA president Atul Pande had other things in mind. “In the backdrop of Make in India, a proper interface between industry and research institutes is must. The budget should allocate funds for improving the infrastructure of research institutes and provide major incentives to scientists to design new products for the industry. The charges of these institutes should be affordable for small industries. If that is not possible then government should provide subsidy to keep them low,” he said.

He also sought an improvement in the delivery mechanisms of the schemes started for new industries by the government. “The government announces several schemes for ease of doing business but the junior officials do not change their attitude and things come to nought. The finance ministry should set up a mechanism to take feedback from industries,” he further said.

BC Bhartia of the Confederation of All India Traders (CAIT) said that there should be no foreign direct investment (FDI) in retail and e-commerce. “GST should be introduced. A national trade policy for traditional retail trade and a separate ministry for internal trade should be set up. Incentives should be provided for encouragement of cashless economy and there should separate laws for e-commerce and direct selling. Food grains and essential items should be out of commodity exchanges.”

About the author

Asmaa Mubita is a Kenyan journalist of international repute with over fifteen years of experience in broadcast journalism. Asmaa Mubita began his journalism career at the Kenyan state broadcaster (KBC) and later worked at the KTN owned by the Standard Group and Citizen Television, the flagship brand of Royal Media Services. These exploits together with his reporting experience with the Voice of America, CNN and BBC have been rewarded with local and global recognition.