CBDT TO START TALKS WITH CA INSTITUTE

The Central Board of Direct Taxes (CBDT) plans to intensify discussions with the ICAI to examine the

• Installation of mechanised food grain handling system and pallet racking system in mandis and warehouse
• Cold storage / cold room or industrial projects for preservation, storage or processing of agricultural, apiary, horticultural, dairy, poultry, aquatic, marine produce and meat
• Concessional BCD rate of 5 percent for specified agricultural machinery, machinery / instruments / appliances required for the initial setting up of solar power generation projects or facilities, subject to specified conditions
• Rationalisation of rate structure for medical, surgical, dental and veterinary equipment - BCD 5 percent, CVD 4 percent, ADC exempted (effective rate 9.6 percent)
• Parts required for manufacture of accessories for medical equipment would attract BCD of 5 percent