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INDIAN BUDGET CUTS PEAK RATE CUSTOMS DUTY ON NON-AGRI PRODUCTS.
NEW DELHI, March 1 Asia Pulse - The Budget 2006-07 proposes to reduce the peak rate customs duty on non-agricultural products from 15 per cent to 12.5 per cent.
Presenting the budget, Finance Minister P Chidambaram on Tuesday announced that there was a need to reduce the customs duty on raw materials and intermediates as the peak rates come down.
He proposed to reduce the duty on alloy steel and primary and secondary non-ferous metals from 10 per cent to 7.5 per cent. Ferro-alloys will also attract 7.5 per cent duty.
The Finance Minister also proposed to restore five per cent customs duty on steel and bring it at par with primary steel in view of steel prices coming down.
The budget also proposed to ...
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Source: HighBeam Research, INDIAN BUDGET CUTS PEAK RATE CUSTOMS DUTY ON NON-AGRI PRODUCTS.