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FinMin requested to impose Border Adjustment Tax

Union Steel Minister Dharmendra Pradhan said the Finance Ministry has been requested to implement the proposed Border Adjustment Tax (BAT) to provide local manufacturers a level-playing field. The proposed BAT would be imposed on imported goods in addition to customs duty to bring the imported products at par with locally-made products. The Indian industry has been complaining to the government about levy of domestic taxes like electricity duty, duties on fuel, clean energy cess, mandi tax, royalties, and biodiversity fees that get charged on domestically produced goods which render them uncompetitive in pricing terms against the lower cost imported goods.

Read More at Moneycontrol News date : 1 Jul 2020, Wednesday

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