Tuesday, 22 Nov 2011
FE reported that the Indian ministries of power and finance are likely to lock horns over a proposal to withdraw customs duty on imported coal.
Taking up the cudgels for power projects hit by the unprecedented increase in international coal prices, the power ministry has moved to push for removal of customs duty on coal to provide relief to power projects using imported fuel.
Apprehensive that the North Block may not be keen to entertain a proposal which entails revenue loss for the exchequer, the power ministry has moved to secure support of the Planning Commission on the issue.
Currently, a 5% basic customs duty is levied on coal.
(Sourced from financialexpress.com)
FE reported that the Indian ministries of power and finance are likely to lock horns over a proposal to withdraw customs duty on imported coal.
Taking up the cudgels for power projects hit by the unprecedented increase in international coal prices, the power ministry has moved to push for removal of customs duty on coal to provide relief to power projects using imported fuel.
Apprehensive that the North Block may not be keen to entertain a proposal which entails revenue loss for the exchequer, the power ministry has moved to secure support of the Planning Commission on the issue.
Currently, a 5% basic customs duty is levied on coal.
(Sourced from financialexpress.com)
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