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Union Budget fosters Make in India

Union Budget fosters Make in India - Budget - By: - SKP IDT - Dated:- 2-2-2017 - With Job Creation being a primary focus area, Government through the Budget 2017, proposed a slew of exemptions /reduction in customs and excise duties on inputs required to be procured by domestic manufacturers and at the same time also enhanced duties on finished products imported into India in order to further boost its 'Make in India' campaign. Rationalization of Custom Duty Significant inputs on which b .....

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Inverted duty structure is a scenario wherein higher burden of tax incidence is on raw materials as compared to the tax incidence on finished goods which is comparatively lower which leads to higher accumulation of credit. Inverted duty structure leads to blocking of working capital as huge tax burden is envisaged on import/procurement of raw material for manufacture. To address this issue, excise duty on inputs i.e. machines required for biogas/bio-methane/by-product hydrogen, has been reduced .....

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