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Article: India: Dept of pharma asks Finance Ministry to raise SSI limit from Rs 1.5 cr to 5 cr.
- Article from:
- TendersInfo
- Article date:
- July 3, 2009
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Byline: babalu03
The department of pharmaceuticals (DoP) has asked the Union Finance Ministry to raise the pharma SSI exemption limit from Rs 1.5 crore to Rs 5 crore and also to increase the abatement rate from the present 35.5 per cent to 60 per cent. According to industry sources, around 95 per cent pharma SSIs are below Rs 5 crore turnover.
With the Damocles' sword of withdrawal of stimulus package announced by the centre in December last year hanging over their heads, the SSI units are worried that if the government withdraws the package and raises the excise duty from the present 4 per cent to 8 per cent, they will be in great disadvantage vis-a-vis ...