Budget 2014: Consumer Durables Makers Seek Cut in Duties

Ahead of the annual budget to be announced next month, the Consumer Electronics and Manufacturing Association (CEAMA) has asked the government to take steps such as reduction in customs and excise duties on consumer durable products.. In its budget wish list, the industry body also asked Finance Minister Arun Jaitley to remove inverted duty structure (driven by FTAs) on consumer electronics products and appliances which is making the Indian manufacturing sector uncompetitive.. "Industry has been reeling under intense pressure due to sluggish demand, onslaught of concessional imports under FTAs and heavy taxation. With the coming-in of the new government, we are hopeful that our recommendations will be taken up for consideration and efforts will be made to provide the industry with immediate relief," CEAMA vice president Manish Sharma said.. The association has called for a reduction in excise duty on production of energy efficient products and removal of inverted duty structure.. It has also sought faster implementation of GST to decrease compliance burden for businesses as well as reduce paperwork while making tax system simpler and transparent.. The industry body also called for reduction of customs duty on LCD/LED televisions to 0 per cent to provide a level-playing field to domestic manufacturers.. It has asked for reduction of customs duty on the import of magnetron and other inputs for manufacture of microwave ovens and reduction of customs duty on project imports to 0 per cent.. "Reduce customs duty on project imports to 0 per cent to enhance manufacturing set-ups and invite new technologies/investments into India, furthering the objective of making it a manufacturing hub," CEAMA said in its budget wish list.

Budget 2014: Consumer Durables Makers Seek Cut in Duties

NDTV Profit

NDTV Profit

Follow Us

DISCOVER US FASTER

DOWNLOAD THE APP