Finmin notifies indirect tax exemptions for withdrawal

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New Delhi, April 10 : To simplify the indirect tax structures by reducing multiplicity of rates and broadening the tax base through withdrawal of exemptions, the finance ministry has notified 21 customs duty and 54 excise exemptions which it proposes to withdraw. Views of all concerned are sought on this proposal.

If the suggestion is for continuance of an exemption, which is sought to be withdrawn, the rationale for the same may be given.

Similarly, if there are other exemptions which merit withdrawal but are not listed herein, the same may also be mentioned along with the rationale for their withdrawal, a ministry release said on Monday.

The items on the lost of customs exemptions include chemicals, for use in the manufacture of Centchroman, Codeine Phosphate or Narcotine, imported by government Opium and Alkaloid Factories, maltol, for use in the manufacture of Deferiprone, film of a predominantly educational character, if so certified by AIR, Doordarshan or CBF, microfilms, of printed books (including covers for printed books), periodicals (including newspapers), music manuscripts, maps, charts, plans, drawings and designs etc.

Specified television cameras (professional grade), audio recording equipment, table top desk production video machine, 8-channel video mixer/switches, imported photographic cameras, cinematographic cameras,digital cameras and lenses, filters, flash light apparatus etc are on the list.