Exempt steam coal from customs duty: Assocham
August 25th, 2010 - 6:30 pm ICT by IANSNew Delhi, Aug 25 (IANS) Import of steam coal should be exempted from customs duty to make the power generated out of such projects more affordable for the masses, says the industry lobby, Associated Chambers of Commerce and Industry of India (Assocham).
Currently, the customs duty on import of stem coal is 5 percent.
Assocham Secretary General D.S. Rawat said a huge number of steam coal based power projects are slated to be set up to meet the country’s growing demand for electricity.
And the levy of basic custom duty on import of stem coal would result in higher cost of production and adversely impact competitiveness of Indian industry.
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Tags: assocham, chambers of commerce, chambers of commerce and industry, competitiveness, custom duty, customs duty, electricity, industry of india, levy, New Delhi, power projects, rawat, secretary general, steam coal