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.
This story is from the December 12, 2024 edition of Financial Express Ahmedabad.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 12, 2024 edition of Financial Express Ahmedabad.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Samsung CEO touts AI fridges & washers
SAMSUNG ELECTRONICS IS ramping up investment in AI for consumer electronics, betting on its ubiquitous presence in gadgets from smartphones to TVs to help it stake out a spot in the AI arena.
HMPV: Centre asks states to step up surveillance of respiratory illnesses
Two suspected cases of the virus were reported from Nagpur, taking the total number to seven
AMD chips to power Dell PCs
● Also announces first desktop PC
Inequality, climate change to be big urban issues
IE THINC SECOND EDITION: OUR CITIES
Only 1 in 5 Sees Household Income Rising in '25: Study
ONLY 24% OR 1 out of every 5 Indians expects their household income to rise in 2025, a survey released on Tuesday showed.
A boost to Act East policy
STRATEGIC ALLIANCES WITH GLOBAL BHARATIYAS
Orbit, Sanabil Launch Startups' Accelerator
ORBIT STARTUPS (ORBIT) and Sanabil Investments have launched an accelerator programme to cultivate early-stage startups from the Saudi Arabia and the Middle East and North Africa (MENA) region as well as global startups seeking to expand into the region.
Vi planning phased 5G rollout, says CEO
VODAFONE IDEA is preparing for a phased 5G rollout, and will launch new tariff plans in 2025, the telco's CEO Akshay Moondra wrote to Vi customers in an emailed new year greeting.
Growth engine runs out of steam
THAT REPRESENTS A loss of 6.4% growth over the period, against an average annual growth of 6%.
BPCL board clears ₹1K-cr MNGL IPO
The board of state-owned Bharat Petroleum Company has given an in-principle approval for the listing of Maharashtra Natural Gas (MNGL)—its joint venture company with GAIL and Indraprastha Gas, the company said on Tuesday.
