“Avoid complicated tax structure” [June 2012]

June 19, 2012 11:07 am

Simplify tax and merge it under a single structure instead of having several taxes under separate names causing chaos and load to a single industry- Sunil Kurkute, Director, Sdtork
Industry on Right Track“The Indian industry is on the right track as lot of technologies is coming into the country related to the manufacturing activity”, announced Sunil Kurkute, Director, Sdtork. “Nowadays the Indian industry is embracing new technologies in the wake of good machineries, automation etc. rather than using old conventional technologies”. However, the manufacturing sector is facing a slowdown though there are business opportunities. Mr. Kurkute feels, “The performance of manufacturing sector could be down after 3 months and will be severely affected”.
Automation the next big thingAutomation is an important part across the industry. Valves play a key role in controlling water and all other process parameters for varied applications in public, and private sectors.
Today automation is termed as the ‘next big thing’. Therefore it can be said that the Indian industry is not only dependant on manpower but automation along with features including fast performance, accurate results and work without breakdown is making things easier. It is beneficial as it gives better quality products at economical rates.
Sdtork manufactures critical process control equipment like electrical actuators for industrial applications manufactures electrical actuators, a product required for automation of valve. The company supplies a wide range of electric actuators for several applications and for any manual operation.
Plan optimise use of resourcesThe country has ample energy resources and optimising it mainly depends on two things i.e. the availability of business and planning. If resources are available, sufficient load should be there and if there is load, then the resources should be utilised efficiently. To utilise resources, planning for upcoming and present business is essential. This again depends on market conditions such as fuel rates etc that lead to increase in pricings. It also acts as an important factor for the market especially in the new upcoming projects.
Need for a comprehensive taxation policyIn order to enable the manufacturing sector to become competitive, the government can play a major role. “A stable government in the centre can attract international investors to set up their business in the country”, Mr. Kurkute comments. “Also the number of taxes needs to be minimised”. At present, we follow different types of taxes like sales tax, excise duties, income tax etc exist. “The government should create a provision wherein the structure should be simplified and by default it should be applicable for each and every person”, he opines. He has also suggested for a provision of paying all the taxes at one instance without any segregation such as service tax or excise tax etc.
Control Fuel PricesFuel rate is another factor since everything depends on fuel. The fluctuation of fuel rate determines the rates of almost every goods and materials including services. “The Government should play a proactive role in keeping the fuel rates under control. Also, it should immediately stop giving subsidies to the industries where not required and offer it as per requirements only after a proper study”, Mr. Kurkute expressed his concern.
Ease in PolicyThe government should also initiate several steps to promote the manufacturing sector. “To promote the manufacturing sector, the Government should provide facilities like allocating lands timely, concessions on taxes etc. for setting-up of manufacturing units”, said Mr. Kurkute.
Getting Right People for Right Job will be challengeCommenting on the Government’s target of creating 100 million jobs in the next 10 years, Mr. Kurkute said, “Although the market is fluctuating the employment for opportunities will be there in service sector as well as manufacturing sector. In comparison to previous years, the job opportunities would be on the rise. However, the problem would be getting the right employee for the right job”.