Cement products face duty inversion | FICCI

Cement products face duty inversion | FICCI

Products across six manufacturing sectors, including capital goods, cement and electronics, face an inverted customs duty structure that erodes competitiveness against finished product imports with a lower levy and discourages domestic value addition, says a report.

According to the document pre-¡pared by industry body FICCI, various products across six manufacturing sectors face duty inversion. This means the import duty applicable on the finished product is lower than that of the raw material or intermediate product.

These sectors include capital goods (like boilers, pressure vessels, etc), cement, electronics and electricals, rubber products (including tyres), minerals and textiles.

The report has been submitted to the authorities concerned, including the Tariff Commission and the department of industrial policy and promotion (DIPP) for necessary action, FICCI said.

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