Meeting with Sri Heeralal Samariya, IAS, Commissioner of Commercial Taxes

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with the Department of Commercial Taxes, Government of Andhra Pradesh organized an Interactive Meeting with Sri Heeralal Samariya, IAS., Commissioner of Commercial Taxes, Government of Andhra Pradesh on “Issues arising out of Re-Organization of State of Andhra Pradesh - Pertaining to Commercial Taxes” on 25th March, 2014 at 4.00 p.m. at Federation House, Hyderabad.

Sri Shiv Kumar Rungta, Senior Vice President, FAPCCI, Smt. Christina Z. Chongthu I.A.S., Special Commissioner of Commercial Taxes has interacted with trade and industry. Sri G. Lakshmi Prasad, Sri D. Ramachandra Reddy and Sri G. Venkateswarlu Addl. Commissioners and Sri V. Harsha Vardhan and Sri Y. Satyanarayana Joint Commissioners of Commercial Taxes, Sri Anil Reddy Vennum, Vice President, FAPCCI, Sri Ravindra Modi, Chairman, Commercial Taxes Committee have participated at the session.

Sri Heeralal Samariya, IAS., Commissioner of Commercial Taxes, Government of Andhra Pradesh interacted with traders and informed that from June 2, 2014 onwards new Tin number will be applicable for Telangana State. The traders must use separate Tin numbers for the both States, when they are filing tax returns. The taxes will be applicable according to the business operations in the both States. The Tax revenues can be shared to the both States and 53% Tax revenue goes to the Telangana and 47% will be for Andhra Pradesh State. Any dispute or grievances will be having at the time of returns filing, the problems can send to the concerned authority level and officials try to solve the problems within 24 hours.

Sri Shiv Kumar Rungta, Senior Vice President, FAPCCI raced few issues related to State bifurcation at his welcome address. He said that the trade and industry is neither conversant nor can comprehend the ramifications of changes that are bound to happen upon bifurcation.  In fact, apprehensions and fears are making their life miserable with no one in authority to assuage their fears or offer any clarity.  Large number of issues pertaining to inter-State trade has to be sorted out a sample of the issues that need to be addressed is mentioned below.

 Tax incentive in the form of Tax deferment has been sanctioned to several new/expansion industries. Such deferred tax has to be repaid in 14 years. Both the Governments must make it clear to which State such deferred tax has to be remitted, to avoid pressure from both the authorities and unwanted litigation.

 As on the date of bifurcation, large number of dealers will have huge amounts as Input Tax Credit (ITC) to their credit. Such credit is in relation to the transactions affected in the composite State but would be set-off against output tax payable in the new State. Such dealers must be allowed to avail full credit without any issues.

 There is levy of Entry Tax on the entry of Motor Vehicles into the composite State. Consequent on bifurcation, it is necessary to make statutory amendments exempting from such levy of entry tax on the entry of motor vehicles from Telangana State into AP State and vice versa.

 At present the dealers in the State are paying 2% CST under CST Act purchased from other States like Tamilnadu & Karnataka etc. If the State of Andhra Pradesh is bifurcated, the dealers of Telangana as well as Andhra will have to pay 2% CST extra and collect ‘C’ forms to avail concessional rate of Tax.

 It is therefore request the State Government to recommend to the Central Govt. to include the provision not to impose CST Act for businesses between Telangana & Andhra Pradesh as a package for a period of 10 years to reduce the extra burden on Trade & Industry and also on consumers of the both the States.

Sri Ravindra Modi, Chairman, Commercial Taxes Committee requested the government to kindly take up the transition issues and all the long term related issues of trade and industry pertaining to Sales Tax, State Excise and Transport on mission-mode in the larger interests of the new States, business and consumers.

Media Release by: Adventura (A Kushmanv Group)

Invest in Israel – Where breakthrough’s happen

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with Consulate General of Israel, Bangalore organized a meeting with Mr. Avi Friedman, Consul for Trade & Economic Affairs, Head of Trade Section, Consulate General of Israel, Bangalore on 24th March, 2014 at 4.00 p.m. at Federation House, Hyderabad.

 Sri Srinivas Ayyadevara, President,  FAPCCI, Mr. Shiv Kumar Rungta, Sr. Vice President, FAPCCI, Mr. Ken Udai Sagar, President, Indo-Israel Chamber of Commerce and Industry, Mr. Shyam Sunder Pasari, Chairman, International Trade Committee, FAPCCI and Mr. R. Kulkarni, Joint Director, FAPCCI was the speakers at the occasion.

Mr. Avi Friedman, Consul for Trade & Economic Affairs, Head of Trade Section, Consulate General of Israel, Bangalore invited investments to invest in Israel. He said that the ‘invest in Israel – where breakthrough’s happens. Israel is ranked third place in entrepreneurship development across the world. Israel changes the face of agriculture in the world.  Eco systems, innovation technology and thoughts support Israel to grow as global leader. Entrepreneurs have investment opportunities in Israel in water treatment & technology, agriculture, bio, space, medical, cyber, education, pharmacy and many sectors he said.

Mr. Srinivas Ayyadevara, President, FAPCCI said that the India and Israel especially Andhra Pradesh offer substantial opportunities and we can cooperate each other in the field of agriculture, food-processing, biotech, aerospace and other similar sectors, by adopting new/latest technology.   There is a need to launch a new initiative to reach out to the business community and public in large to spread awareness about Israel and help strengthening ties with India, especially in the fields of trade, tourism and technology.

Our State is one of the fastest growing economies in India and became one of the hottest investment destinations among the various investment options in the fast growing emerging economies. The State is ranked 2nd in the country in attracting investments. In a World Bank Report, Hyderabad is ranked second easily accessible city in India for doing business he said.

Media Release by: Adventura (A Kushmanv Group)

Indians are the largest recipients of H1-b Visa

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with U.S.  Consulate General, Hyderabad jointly organized a Talk with Mr. Edward Alden, Bernard L. Schwartz Senior Fellow, The Council on Foreign Relations, Washington D.C.

Sri Shiv Kumar Rungta, Senior Vice President, FAPCCI, Sri Anil Reddy V, Vice President, FAPCCI, Sri Gurdit Singh, Consulate Officer, Sri Salil Khedar, Consulate Officer, Sri Shyam Sunder Pasari, Chairman, International Trade relations committee, FAPCCI and Smt. Vydehi P, Secretary (I/c) has addressed at the talk.

Mr. Edward Alden, Bernard L. Schwartz Senior Fellow, The Council on Foreign Relations, Washington D.C stated at his talk is that the – Indians are the largest recipients of H1-b Visa from United States of America. US immigration policy is more beneficial India. Most of the emigrants in the US are family based, but in the Australia and Canada focused on Economic development. American economy is basically into information technology and industrial development. The Indians are in the forefront to start business in the Silicon Wally and Chinese and Malaysian are in the second and third place. In the last economical year a total of 140,000 Indians have got emigrational support from the US government.

H1 b Visa program is helping immigrants, particularly who wants to start business in the US. Now, through H1 b Visa.

Media Release by: Adventura (A Kushmanv Group)

Business Opportunities in RAKIA Ras Al Khaimah, UAE

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with RAKIA Investment Authority, Ras Al Khaimah, UAE organized the Seminar on Business Opportunities in RAKIA Ras Al Khaimah, UAE on March 13, 2014 at Federation House, Red Hills, Hyderabad.

Sri Probir Chakraborthy, COO, RAKIA Investment Authority, Ras Al Khaimah, UAE was the chief guest for this occasion.

Sri Shiv Kumar Rungta, Senior Vice President, FAPCCI,  Sri Yoonus Ismail, Rakia officer, Sri Shyam Sunder Pasari, Chairman, International Trade Relations Committee, FAPCCI, Sri R Kulkarni, Joint Secretary, FAPCCI has participated at the session.

Media Release by: Adventura (A Kushmanv Group)

Taiwan Machinery Catalogue Show at FAPCCI

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with Taiwan Association of Machinery Industry (TAMI) jointly organized an Taiwan Machinery Catalogue Show today (March 09, 2014) at FAPCCI, Red Hills, Hyderabad.

Dr. Guann Jyh Lee, Executive Director, Economic Division, Taipei Economic and Cultural Center in India and Mr. Kishore Kumar Tulluri, Co-Chairman, International Trade Relations Committee, FAPCCI was inaugurated the Catalogue show. Mr. John Chen, Director, Taiwan Association of Machinery Industry, Mr. Abhay Kumar Jain, Managing Committee member, FAPCCI, Mr. Kulkarni, Joint Director, FAPCCI and Mr. Venkat Bulemoni, CEO, Kushmanv Information Technologies has participated at the catalogue show.

Dr. Guann Jyh Lee, Executive Director, Economic Division, Taipei Economic and Cultural Center in India are said that the machinery catalogue exhibition show’s goal is to create Indian and Taiwan’s businessmen trade in machinery. The catalogue show consist of 9 main industrial / machinery categories, such as machine tools, food processing machinery, packaging machinery, plastic & rubber machinery, textile machinery, shoes & leather machinery, wood working machinery, machinery parts and industry machinery. There are in total 100 companies that have provided the 9 main industrial / machinery categories.

Media Release by: Adventura (A Kushmanv Group)

Womens Day Celebrations at FAPCCI

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) is organized a “International Women’s Day Celebrations”, today (8th March, 2014) at 11.00 am at  the JSK Hall, Federation House, Hyderabad.

Smt. C.S. Rama Lakshmi, I.F.S., Commissioner of Seri-culture,  Department of Seri-culture, Govt. of Andhra Pradesh was the chief guest and Smt. Ramadevi, President, ALEAP was the guest of honour at the occasion. Sri Shiv Kumar Rungta, Senior Vice President, FAPCCI, Smt. P. Vydehi, Secretary (I/c) also addressed at the occasion.

Media Release by: Adventura (A Kushmanv Group)

Lesotho was the rising country in international global market

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) in association with Kingdom of Lesotho jointly organized an interactive session on “Bileteral Trade Relations between India & Kingdom of Lesotho” today (March 05, 2014) at FAPCCI, Red Hills, Hyderabad.

His Excellency Hon. Mr. Mohlabi Kenneth Tsekoa, Hon’ble Minister of Foreign Affairs and
International Relations, Kingdom of Lesotho was the chief guest for this occasion.

Dr. Ashok Kumar Kedia, CEO, Kedia InfoTech & e-Seva World, Mr. Surat Singh Malhotra, Hon. Consul of the Kingdom of Lesotho, Hyderabad, H.E. Mr. Bothata Tsikoane, High Commissioner of the Kingdom of Lesotho, Mr. Mokhethi Shelile, Head, Forign Investment, Kingdom of Lesotho, Mrs. Boopane Masoebe, First Secretary, Kingdom of Lesotho and Mrs. P. Vydehi, Secretary (Incharge), FAPCCI was the other speakers at the occasion.

Mr. Mohlabi Kenneth Tsekoa, Hon’ble Minister of Foreign Affairs and International Relations, Kingdom of Lesotho said that the Lesotho was the rising country in international global market, and the Kingdom of Lesotho offering industrial friendly environment to the industrialists to invest in Kingdom of Lesotho. The investors can develop their own industries in Agriculture, Agri-Tech, Construction, Mining, Engineering, Textiles, Environment, ICS and Tourism segments he said.

The bilateral trade between the India and Kingdom of Lesotho has drastically decreased from USD 24.35 to USD 11.05 Million. The major Indian imports are wool, fine or coarse animal hair, horsehair yarn & woven fabric, apparel and clothing accessories not knitted or crocheted.  The Indian exports are mainly pharmaceuticals and fabrics. The potential areas of cooperation are Tourism, Pharmaceuticals, Agriculture, Print Packaging, Renewable Energy, Textile, Education and Infrastructure Development he explained.

Media Release by: Adventura (A Kushmanv Group)