Govt may do away with inverted duty structure in Budget
Citing the example of tyre industry, Ficci has said that inverted duty structure in this sector exists with respect to natural rubber which is the principal raw material for tyre manufacturing. Basic customs duty on tyres is 10 per cent as compared to 20 per cent or Rs 20/kg (which ever is lower) on natural rubber.
"Domestic manufacturers should be provided a level playing field vis-a-vis imports under free trade agreements and various duty concession schemes," the expert said.
Finance Minister P Chidambaram is scheduled to present the Budget for 2013-14 on February 28.
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