| Date: |
11-02-2011 |
| Subject: |
Budget 2011: FIEO Recommends Exemption Of Anti Dumping Duties On Machinery Imported Under EPCG Schem |
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NEW DELHI: FIEO has recommended exemption of anti dumping & safeguard duties on import of machinery under EPCG Scheme.
Anti-Dumping Duty is payable for machinery imported under the EPCG Scheme. However, anti-dumping duty is not payable to export inputs imported under the Advance Authorisation Scheme. Both Schemes are Export Promotion Schemes and imposing export obligations as per provisions of the Foreign Trade Policy. Imposing Anti-Dumping Duty on the Capital Goods under EPCG makes the scheme unviable.
Basic Customs Duty exemption on Capital Goods for Power Plants
Customs Duty exemption will contribute towards reduction in the cost of power generation which will help our economy at large besides encouraging more industries to come forward to set up power plants. All initiatives from industries to set up Independent, Merchant and Captive Power Plants should be encouraged by Government of India.
Source : economictimes.indiatimes.com
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