Budget 2014: Consumer durables makers seek cut in duties
Last Updated: Tuesday, June 10, 2014, 19:14
New Delhi: 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 and rapid implementation of GST.
In its budget wish-list, the industry body also asked the Finance Minister 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 reduction in excise duty on production of energy efficient products and remove inverted duty structure.
It has also sought faster implementation of GST to decrease compliance burden for businesses as well as reduce paper work while making tax system simpler and transparent.
The industry body also called for reduction of customs duty on LCD/LED televisions to 0 percent 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 percent.
"Reduce customs duty on project imports to 0 percent 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.
First Published: Tuesday, June 10, 2014, 19:14