In a relief to the branded garments industry, which has been slapped a 10% excise levy in the budget, the government has decided that the sector will be eligible for taxes paid on inputs. Cenvat credit in this instance means all taxes on inputs. In the budget 2011-12, the government had introduced a mandatory 10% excise duty on readymade garments and textile made ups bearing a brand name or sold under a brand name.The government has also extended the excise benefits available to small scale industries to ready-made garments and other made ups. Any small scale unit having a turnover of less than . 1.5 crore is exempt from excise duty, but is also not allowed to claim cenvat credit.
The duty is to be charged only on the 60% of the tariff value of the retail price, which provides adequate relief. the optional duty regime enjoyed by the sector prior to the Budget would also continue, but branded garment makers will not be able to avail of the scheme. Readymade garments and made-up articles were exempt from excise duty, but had an optional scheme available if they wanted to avail credit for input taxes. Under this regime they had to pay duty at the rate of 4% for goods made of only cotton and 10% for others to claim cenvat credit. The . 7,000 crore Indian branded garment industry has criticised the levy and demanded relief.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Download APP
