UNION BUDGET 2003-2004

Dear Mr. Finance Minister...

Posted: Friday, Feb 21, 2003 at 0000 hrs IST
Updated: Friday, Feb 21, 2003 at 0000 hrs IST

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: a composite VAT of 17 per cent, as is applicable in other countries, should be levied on consumer electronic products.

While audio systems, audio two-in-ones, calculators, electronic clocks, timepieces, washing machines, refrigerators, microwave ovens have 40 per cent abatement on MRP for excise, CTVs have been retained under 35 per cent abatement. The abatement for CTVs should also be made 40 per cent.

Similarly, the SED on ACs should be abolished, which is 16 per cent now, leading to the creation of a huge grey market.

Yours Truly,

Rajeev Karwal,
President,
Consumer Electronics & TV Manufacturers Association...

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