Seminar conducted by DISMA on Union Budget 2016-2017

Mumbai, 2nd March 2016: The Darukhana Iron Steel & Scarp Merchants Association (DISMA) a name of repute in Steel Fraternity for the welfare of the Members is arranging the Seminar on Union Budget each year & accordingly the Seminar on 2016-17 Budget was organized on 1st March 2016 at M.C. Ghia Hall, Fort, Mumbai.

Eminent Tax Consultant Shri. Vimal Punmiya B. Com, L.L.B., F.C.A.  was invited to address the Members on Union Budget.

Shri. Vimal Punmiya expressed that in the Current Budget the Government has initiated the move to connect with Trading Community in positive perspective and many provisions have been simplified and drafted in such manner to restrict them to the particular construed meaning thereof and thereby extinguishing the chances of multiple interpretation. The other main features are:-

1. 13 cesses, levied by various Ministries in which revenue collection is less than ` 50 crore in a year to be abolished.

2. For non-residents providing alternative documents to PAN card, higher TDS not to apply.

3. Revision of return extended to Central Excise assesses.

4. Customs Act to provide for deferred payment of customs duties for 15 importers and exporters with proven track record.

5. Customs Single Window Project to be implemented at major ports and airports starting from beginning of next financial year.

6. The Seminar was attended by the Members of Steel Fraternity and distinguished Guests from sister concern Association viz BIMA, BIBA, Steel Chamber, MASSMA & the apex Body of Trading Community FAM.