| Date: |
19-08-2010 |
| Subject: |
CCEA to decide import duty on power tools, DTC on 19 Aug |
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The Cabinet Cabinet Committee on Economic Affairs (CCEA) is set to meet on Thursday. The agenda of the meeting will include decision on import duty on power equipment and direct tax code (DTC) Bill.
Earlier, a committee of secretaries (CoS) had proposed to impose 5% customs duty, 10% CVD and 4% SAD on imported power equipment to provide a level playing filed to the domestic industry and give a boost to domestic production of power equipment. This proposal is being examined by the power ministry for finalising a Cabinet note on the subject.
The proposal, if approved by the Cabinet, will help Indian manufacturing giants like BHEL and L&T but it can turn out to be nightmare for companies like Reliance Power that are dependent on Chinese equipment for most of their capacity addition.
Source : moneycontrol.com
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