sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 Companies (Appointment and Qualification of Directors) Sixth Amendment Rules, 2018.
 Easier tax refund regime for exporters in the works
 Income tax on your gold and real estate investments
 Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 117(1A) of the Central Goods and Service Tax Rules, 2017 in certain cases
 How RBI dealt with the crisis amid tensions with FinMin
 Pay tax on this PF account withdrawal Income tax return (ITR) filinga
 Seeks to make amendments (Ninth Amendment, 2018) to the CGST Rules, 2017.
 How govt is dealing with tax evasion, corporate fraud
 How to check income tax return (ITR) status
 Second instalment of advance tax due on 15 September
 Missed the deadline for filing India ITR? Here is what you can do

Cement manufacturers seek reduction in taxes
January, 18th 2008
The Cement Manufacturers Association, in a pre-budget memorandum to the Centre, has sought a reduction in taxes and levies to make cement affordable for housing and infrastructure projects and to cope with international competitors.

Cement is one of the highest taxed essential infrastructure input in India with Government levies and taxes together constituting more than 60 per cent of the ex-factory price. Compare that with 17 other countries in the Asia-Pacific region where the average tax on cement is 11.4 per cent, with Sri Lanka at a high of 20 per cent, the industry has said.

The industry has sought abatement on excise duty levied on the maximum retail price of cement. Such abatement is provided on all products where levy is linked to MRP.

The Centre has levied a three-tier system of excise on cement at 12 per cent for a 50 kg bag at an MRP of Rs 190 to Rs 250, a specific excise duty of Rs 350 a tonne on cement less than Rs 190 and a specific rate of Rs 600 a tonne on cement costing more than Rs 250 a bag.

The industry has asked for 55 per cent abatement as suggested by the NCAER in its report of 2005. White cement gets 35 per cent abatement, the memorandum said.

The manufacturers have also asked the Government to bring down the rate of VAT on cement and clinker to 4 per cent against 12.5 per cent now.

The association has suggested that the 5 per cent customs duty on coal and pet coke be abolished to sustain cement production. The industry needed 25 million tonnes of coal in 2006-07 but coal companies supplied only 14.43 million tonnes against an agreement to supply 15.48 million tonnes. The industry had to look to the open market, imports and alternatives like pet coke.

Also, cement imports are allowed at zero import duty. The industry has suggested that a countervailing duty may be re-imposed to the extent of excise duty to enable domestic players compete on a level playing field.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Experience

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions