Import of portland cement exempted from duty

Import of portland cement exempted from duty

Tuesday, 03 April 2007, 05:00 Hrs
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New Delhi: In a measure aimed at arresting the price line, portland cement has been exempted from countervailing duty and special additional customs duty.

"With a view to increasing availability of cement and moderate prices, the government has exempted imports of portland cements (other than white cements) from countervailing duty (in lieu of excise duty) and the special additional duty of customs of 4 percent with immediate effect," the ministry of finance said in a release.

Cement prices have been rising sharply for the past one-year due to the spiraling inflation, even though the government has taken a number of measures to curb the prices.

The average price of cement has risen from 165 per 50-kg bag in January 2006 to 209 in February 2007 and to 220 in March 2007. The government has also asked the cement industry to reduce the prices for the benefit of consumers.

However, according to the ministry, the situation will improve once the supply side constraints are taken care of, said the release. The government, while expressing hope that the cement producers will take necessary steps to address the issue, has called for proposals to chalk out a strategy in moderating the prices.
Source: IANS
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