PowerMin for 14 pc import duty on power equipment

The government has circulated a draft Cabinet note proposing imposition of 14 per cent duty on imports of power equipment, a proposal aimed at providing a level-playing field to domestic manufacturers like BHEL and Larsen & Toubro.

"We sent the draft note to the Finance Ministry and the Ministry of Heavy Industry and Public Enterprises for the imposition of 5 per cent customs duty, 5 per cent special additional duty and 4 per cent countervailing duty on imported power equipment," a Power Ministry official said.

Domestic power equipment makers like BHEL and L&T have been demanding levy of 14 per cent duty on imported electrical equipment, mainly arising from China, in order to provide them a cushion against local taxes.

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http://economictimes.indiatimes.com/news/economy/policy/powermin-for-14-pc-import-duty-on-power-equipment/articleshow/11070503.cms