MEMBERS LOGIN:
Date : 16 September 2016
Government of India has requested ICC to send proposals for the Union Budget 2017-2018 providing your suggestions for changes in the duty structure, rates and broadening of Tax base on both direct and indirect Taxes giving economic justification for the same.
As regards suggestions relating to duty rates (Customs and central Excise), it is requested that all relevant information for each commodity including 8-digit classification under Customs and Central excise Tariff, price tend both domestic and international, incidence of duties (Including value Added Tax/any other state taxes), domestic demand and supply situation (including imports and exports, if any) and impact of the propsed change on upstream and downstram industires may be provided.
Your suggestions may be justified by relevant statistical information about production, prices, revenue implication of the changes suggested. You are also requested to highlight cases where non-uniformity in duty rates exists for the same class / group of items. It has been informed by the Ministry that the request for correction of inverted duty structure should necessarily be supported by value addition at each stage of manufacturing of the commodity.
In view of Customs and Central excise duty rates applicable to Chemical Industry, the additional information may be provided.
Members are aware that Government is very positive and responsive towards chemical industry. Besides, ICC delegation had an opportunity to discuss various issues covering Custom Duty Structure, Inverted Duty Structure, Special Additional Duty, Free Trade Agreement, Availability of Feedstock, Recommendations related to infrastructure including Road, Power, Environmental protection related recommendations etc.
Last year's Pre-Budget Memorandum for Union Budget 2016-17 has been attached for your reference.
Please therefore consider sending your recommendations to reach ICC Mumbai Office on or before 30 September 2016 clearly mentioning trade statistics and HS Code of the product.
Thanking you in anticipation of your support,
Yours faithfully,
H S KARANGLE
Director General
Responsible Care (RC) is a Chemical Industry Initiative, which calls on Companies to demonstrate their commitment to improve all aspects of performance, which relate to protection of health, safety and environment.
