1. Budget 2016 expectations: ‘Address inverted duty structure’

Budget 2016 expectations: ‘Address inverted duty structure’

Budget 2016 expectations: Consumer appliances are not really luxury goods today. We are an industry dedicated to improving the lives of people in India through the various household products. Appliances are tools which aid people in becoming more productive on a daily basis.

New Delhi | Published: February 18, 2016 5:10 PM

Budget 2016 expectations: Consumer appliances are not really luxury goods today. We are an industry dedicated to improving the lives of people in India through the various household products. Appliances are tools which aid people in becoming more productive on a daily basis.

We feel this industry needs to be supported through exemption from customs levy for key parts, to boost domestic manufacturing in line with the government’s ‘Make in India’ agenda.

The issue of inverted duty structure also has to be addressed wherein raw materials attract more import duty than the final products. Tax structure needs to be streamlined so that locally manufactured products are not at a disadvantage vis-à-vis imports.

It is also essential to further support energy efficient products through tax concessions so that such appliances can be encouraged and power consumption reduced thereby ensuring a more eco-friendly future. Also a forward movement on the crucial GST Bill will eliminate multiple levels of taxation while enhancing transparency which will ultimately benefit consumers.
BY Kamal Nandi, Business Head & EVP, Godrej Appliances

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