Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

As Part of 'Make in India' Campaign, Govt May Address Inverted Duty Structure in Budget

Inverted duty structure impacts the domestic industry adversely as manufacturers have to pay a higher price for raw material in terms of duty, while the finished product lands at lower duty and cost.

Updated:January 13, 2020, 10:32 PM IST
facebookTwitter Pocket whatsapp
As Part of 'Make in India' Campaign, Govt May Address Inverted Duty Structure in Budget
Image for representation.

New Delhi: To boost manufacturing as part of the 'Make In India' campaign, the government is expected to address the issue of inverted duty structure, especially in sectors such as chemicals and electronics, in the forthcoming Budget, sources said.

Inverted duty structure refers to taxation of inputs at higher rates than finished products that results in build-up of credits and cascading costs. Industry has been demanding that government remove the anomalies with regard to taxation of raw material and other inputs, the sources said.

The commerce and industry ministry has proposed to the finance ministry to address the inverted duty structure on several products such as consoles, panels, certain steel products, calcined alumina, ethyl acetate, and viscose staple fibre, they added.

Inverted duty structure impacts the domestic industry adversely as manufacturers have to pay a higher price for raw material in terms of duty, while the finished product lands at lower duty and cost.

Further, concessions given by India under free trade agreements to its partner countries has also resulted in inverted duty structure that makes Indian manufactured goods (those dependent on imported raw materials) uncompetitive in domestic market.

India has implemented FTAs with many countries including Japan, South Korea and Singapore, and is in discussion with several other nations.

The Index of Industrial Production (IIP) growth during April-November period of the current fiscal came in at 0.6 per cent, down from 5 per cent in the same period of 2018-19.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp
Most Active
Company Price Change %Gain
Dr Reddys Labs 3,033.65 3.27
ICICI Bank 530.90 -1.14
Reliance 1,580.65 2.79
Bharti Airtel 500.00 5.47
Vodafone Idea 4.51 -25.21
Top Gainers
Company Price Change %Gain
Bharti Airtel 500.00 5.47
Reliance 1,580.65 2.79
Sun Pharma 454.45 1.24
HCL Tech 598.80 0.91
Maruti Suzuki 7,524.55 0.80
Top Losers
Company Price Change %Gain
IndusInd Bank 1,352.55 -2.46
SBI 318.00 -1.62
HDFC 2,453.95 -1.14
ICICI Bank 530.90 -1.14
Larsen 1,304.55 -1.10

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results