Kassia seeks cut in excise duty on SME products

Karnataka Small Scale industries Association (Kassia) has urged the Central Government to reduce excise duty on products manufactured by small and micro industries to 6 per cent from the current duty levels of 10 per cent. The excise duty on products manufactured by small and micro sector is at an advantageous level at present at 10 per cent, which is on par with medium and large scale sector products, said Mr Prakash N. Raikar, President, Kassia. “The association has also asked the Government to increase the Central Excise exemption limit to Rs 3 crore from existing level of Rs 1.5 crore,” he added. Kassia delegation headed by Mr Raikar presented its Budget wish-list to the Union Ministry of Micro Small and Medium Enterprises Development (MSMED). On service tax exemption, the association has asked for service tax limit be enhanced to Rs 1 crore from the present Rs10 lakh, and the rate of service tax to be lowered and fixed at 5 per cent from the existing 10 per cent.

Source : The Hindu Businessline