New Delhi The power ministry has stuck to it its original proposal to levy a total of 21% import duty on power equipment despite changes sought by a host of central ministries seeking higher duty protection for the domestic engineering firms such as Bhel and L&T.
In a recent draft Cabinet note, the power ministry has retained the proposal to levy 5% basic customs duty, 12% countervailing duty (after the excise hike announced in the Budget to 12%) and 4% special additional duty on power equipment for all categories of projects bearing non-mega, mega and ultra mega tags. Cumulatively, the duty works out close to 23%, which power ministry feels is adequate disincentive for power producers to go for imported equipment.
Links:
[1] http://admin.indiaenvironmentportal.org.in/news/power-ministry-reiterates-proposal-levy-21-import-duty-equipment
[2] http://admin.indiaenvironmentportal.org.in/category/author/subhash-narayan
[3] http://admin.indiaenvironmentportal.org.in/category/newspaper/financial-express-new-delhi
[4] http://admin.indiaenvironmentportal.org.in/category/thesaurus/ministry-power
[5] http://admin.indiaenvironmentportal.org.in/category/thesaurus/bharat-heavy-electricals-ltd-bhel
[6] http://admin.indiaenvironmentportal.org.in/category/thesaurus/planning-commission
[7] http://admin.indiaenvironmentportal.org.in/category/thesaurus/imports
[8] http://admin.indiaenvironmentportal.org.in/category/thesaurus/energy-policy
[9] http://admin.indiaenvironmentportal.org.in/category/thesaurus/energy