Customs duty: Govt defers decision on power gear import duty
March, 01st 2012
Panel of ministers on economic affairs have deferred a decision on duties for imported power equipment, heavy industries minister Praful Patel said.
In February 2010, a high-ranking government body, had recommended imposition of a 10% import duty and 4% special additional duty on all imported power gears, mainly targeted at curbing imports from China.
At present, there is no duty on imported power gears for projects above 1 GW, while a 5% duty is applicable on imported power gears for projects below 1 GW.