Need correction in custom duties on digital lens, accessories
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While I expect this Budget to foremost address macro issues that impact demand generation, industry also needs administrative and tax reforms in various areas like for movement of goods and double taxation. In 16 states in India, there are entry formalities for goods movement. Every transaction needs to accompany with entry form, availability of which is always cumbersome. There are also double taxation on works contracts for providing services to customers in OA and Imaging industry. We levy service tax on total value of contract and then VAT on material value. This needs correction. On custom duties, correction is needed on lens and accessories of Digital SLR which are classified separately and thus attract peak duties of 10 per cent whereas Digital SLR is classified under zero basic duties. This results into extremely high grey market for lenses causing enormous revenue losses for the....
More about Alok Bharadwaj
Alok Bharadwaj is the Senior Vice President of Canon India. Bharadwaj joined Canon in 2001 to take charge of its printer products division. Over the last 8 years, he has assumed responsibilities of five business divisions in Canon. An industry veteran with over 24 years of experience, Alok has led sales & marketing initiatives across diverse businesses and industries like consumer durables, telecom & IT. In his current role as the Senior Vice President, Canon India, Alok has been the driving force in leading the company to the No 1 position across various product categories. He has been awarded “The most influential person in photography for the year 2008” by the leading photography publication Asian Photography.
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