Ludhiana News/FICO delegation meets PS Pruthi
Author(s): City Air NewsLudhiana, December 4, 2013: Federation of Industrial & Commercial Organisations (FICO) President Gurmeet Singh Kular and Secretary Rajiv Jain and Pawan Garg on Wednesday met PS Pruthi, Chief Commissioner, Customs...
Ludhiana, December 4, 2013: Federation of Industrial & Commercial Organisations (FICO) President Gurmeet Singh Kular and Secretary Rajiv Jain and Pawan Garg on Wednesday met PS Pruthi, Chief Commissioner, Customs Central Excise & Service Tax Northern Region at Chandigarh regarding the problems of Industries. They presented memorandum, which reads as under:
Central excise duty:
a. Abolish of 2.06% central excise duty on complete bicycles as this industry pays 12.36% central excise duty on the raw material & other inputs which are not refunded any where this makes us uncompetitive in National & International markets.
b. The basic exemption on excise duty be increased from 1.50 crore to minimum 3 crore for smooth operation of industries.
Increase of import duty on bicycle & parts to 50%:
It is our humble request to increase Import duty on Bicycle & parts up to 50% as huge quantity of items are being imported in the country and are destroying the MSME sector because they are facing closure due to cheap and sub standard goods. This should be valid on SAFTA /ISAFTA countries also as they do not have any duty on import of goods and are posing threat of cheap imports.
Anti dumping duty:
The ban or effective steps should be taken for discouraging imports of goods which disturbs the existing Trade and industry of India. Import duty /Safe Guard Duty/ Anti Dumping Duty at least 30% on cycle & cycle Parts should be imposed to save the Indian Industry or Minimum floor prices should be fixed.
In House Factory Stuffing:
In House Factory Stuffing should be allowed to the Merchant Exporter as this facility is only allowed to Manufacturer exporter.
Mutilation in Scrap:
20% Mutilation on Imported Scrap should be allowed in order to facilitate the importers.
The chief commissioner heard patiently and assured the industrialist that the proper redressal will be done at the earliest and requested the delegation to send the representation regarding fixation of floor prices./ ludhiana news online, ludhiana news in English, ludhiana news, ludhiana current news, ludhiana news live, Ludhiana breaking news, Ludhiana headlines, Ludhiana latest news, punjab news, india news,