Budget wishlist: Reduce excise on tinplate
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It is that time of the year when the industry presents its demands to the Finance Minister. And this time, too, is no different. As Pranab Mukherjee gets set to present his Budget, here's a wishlist: Import duty on tinplate should be brought down to zero from 5%.Since tinplate is being primarily used for manufacture of cans which is mainly for packing of all kinds of food and beverage products, it is essential to give further boost to agro-based industry. Industry is suffering because of inverted duty structure of excise on tinplate and OTS containers i.e. while tinplate is subjected to duty of 8%, OTS cans are subjected to 4 per cent and this is resulting in the accumulation of credit with the industry, therefore, excise duty on tinplate should be reduced to 4 per cent. Deemed export to be treated at par with physical export....
More about Sanjay Bhatia
Sanjay Bhatia, 56, is the Managing Director of Hindustan Tin Works Ltd. and Rexam-HTW Beverage Can (India) Ltd. (a joint venture with Rexam PLC group UK). He is also a director in Hi-tech Surfactants Ltd. (a joint venture with Unilever). A B.Com, LL.B, Bhatia has also served at the president of the PHD Chamber of Commerce and Industry. Apart form being the vice-chairman of the Indian Institute of Packaging (IIP), and managing committee member of the Federation of Indian Chamber of Commerce & Industry (FICCI), he is a special invitee on the task force set up by Commission on Centre-State relations.Recent Posts
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