HIKE IN CUSTOMS DUTY IN 45 ITEMS A MOVE TO PUSH ‘MAKE IN INDIA’, NEITHER PROTECTIONIST NOR INFLATIONARY, CBEC AT PHD CHAMBER

HIKE IN CUSTOMS DUTY IN 45 ITEMS A MOVE TO PUSH ‘MAKE IN INDIA’, NEITHER PROTECTIONIST NOR INFLATIONARY, CBEC AT PHD CHAMBER

HIKE IN CUSTOMS DUTY IN 45 ITEMS A MOVE TO PUSH ‘MAKE IN INDIA’, NEITHER PROTECTIONIST NOR INFLATIONARY, CBEC AT PHD CHAMBER

No.PR-153

February 6, 2018

New Delhi

 

HIKE IN CUSTOMS DUTY IN 45 ITEMS A MOVE TO PUSH ‘MAKE IN INDIA’, NEITHER PROTECTIONIST NOR INFLATIONARY, CBEC AT PHD CHAMBER

Chairperson, CBEC, Ms. Vanaja N Sarna on Tuesday emphasized that customs duty enhancement in nearly 45 items of mass consumption in Budget 2018-19 are meant to push ‘Make in India’ and should not be seen with the perspective of protectionist tendencies.

“This move is not at all inflationary and that it singularly aims at promoting ‘Make in India’ in items of huge mass needs as each MSME would want to take part in the phased manufacturing programme of India as per which manufacturing requires to be encouraged in smaller items such as mobile phones and their parts, auto parts, candles, watches and so on so forth”, she stressed.

Addressing a Post Budget Interactive Session under aegis of PHD Chamber of Commerce and Industry here today, Ms. Sarna also added that recent changes and modifications made into Indian Customs Act would promote trade facilitation and, therefore, progressive steps on this front have been introduced in the Budget 2018-19.

Similarly, several other measures have been inducted in the Budget proposals for the next fiscal so that the flow of trade and services is expanded rather than restricted, felt Ms. Sarna.

 

Speaking on the occasion, Chairman, CBDT, Mr. Sushil Chandra explained that the government tax data revealed that salaried class was much more forthcoming and pro-active on payment of personal taxes rather than business community which contributed a personal tax amounting to Rs.44,000 crores as against 1,48,000 crores of personal taxation that accrued to the government through salaried class in the recent times and called that it is this class which deserves a better deal.

Disagreeing with the criticism that the current Budget ignored middle class, the Chairman, CBDT clarified that raising standard exemption to Rs.40,000 per individual will mean a total relief of Rs.8,000 crores.  He also was of the view that the government would have to sacrifice around Rs.20,000 crores from its kitty by allocating host of tax exemptions and incentives asked for.

Among others that represented industry on the occasion comprised President, Sr. Vice President and Vice President, Mr. Anil Khaitan, Mr. Rajeev Talwar and Mr. D K Aggarwal, former President, PHD Chamber, Dr. Mahesh Gupta including Chairmen, Direct and Indirect Taxes Committee of the Chamber, Mr. Anil K Chopra and Mr. Bimal Jain and its Secretary General, Mr. Saurabh Sanyal.

Ends.

Koteshwar Prasad Dobhal

Consultant (PR)