Import duty on power equipment likely in Budget

The proposal to impose customs duty on import of power equipment with more than 1,000 MW capacity may find its way in the Budget, even as it was withdrawn from the Cabinet on Thursday. The Budget is scheduled to be presented on March 16. While opinions differ on the exact reason for withdrawal of the proposal, official sources said that there were differences over the quantum of duty. While the Power Ministry is believed to have recommended 19 per cent import duty on equipment for large projects, the Commerce Ministry favoured 24 per cent duty.

Source: The Hindu Business Line