Budget 2018: Consumer durables makers seek import duty on imported items
Consumer durables and home appliances makers have asked the government to double custom duty to 20 percent on imported products such as washing machines, refrigerators and air conditioners to encourage domestic manufacturing.
New Delhi: Consumer durables and Home appliances makers have asked the government to double custom duty to 20 percent on imported products such as washing machines, refrigerators and air conditioners to encourage domestic manufacturing.
The Consumer Electronics and Appliances Manufacturers Association (CEAMA) has also asked to impose custom duty on printed circuit board (PCB) to encourage local manufacturing of smartphones.
"The industry expects an amplification on the BCD on ACE (Appliances and Consumer Electronics) goods such as refrigerators, washing machines and air conditioners from 10 percent to 20 percent to discourage imports of these goods," CEAMA President Manish Sharma said.
"Additionally to encourage the higher value addition the government should impose custom duty on populated PCB's to enhance the local manufacturing of smartphones," he added.
The association also asked for bringing down GST on the ACE goods to 18 percent from the present 28 percent slab to increase their consumption.
"In order to encourage the consumption of these products government should revise the GST rates of ACE products to 18 percent," it said.
It has also sought additional tax relief to the energy-efficient products having a four star rating and above by bringing them below from 12 percent GST slab.
Budget 2018: Information technology, electronics industry seek tax rationalisation
Software industry, under the aegis of Nasscom, on Monday sought a resolution of the issues related to service tax refunds and GST during the pre-budget meeting with Finance Minister Arun Jaitley
Budget 2018: Ahead of NDA govt's final full budget, various industry representatives give their
The central government will unveil the 2018/19 Union Budget on Thursday, and investors are expecting increased investment in key areas such as agriculture, while a slew of incentives for businesses are also expected
GST: E-way bill must for interstate goods movement from 1 February
The e-way bill, to be generated under the GST for all inter-state movement of goods valued at over Rs 50,000, will become mandatory from Thursday, on the day of the presentation of the Union Budget 2018-19 in Parliament.