Decision on duty hike for imported power equipments deferred

Panel of ministers on economic affairs have deferred a decision on duties for imported power equipment, heavy industries minister Praful Patel said.

[caption id=“attachment_230374” align=“alignleft” width=“380” caption=“At present, there is no duty on imported power gears for projects above 1 GW”]  [/caption]

In February 2010, a high-ranking government body, had recommended imposition of a 10 percent import duty and 4 percent special additional duty on all imported power gears, mainly targeted at curbing imports from China.

At present, there is no duty on imported power gears for projects above 1 GW, while a 5 percent duty is applicable on imported power gears for projects below 1 GW.

More from Economy

Narendra Modi gets a stellar economic advisory panel but will he listen to it in an election year? Demonetisation: RBI will take time to count scrapped currency note deposits, says Arun Jaitley

Reuters