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Thu, 08 Mar 2012 16:46:46 GMT

IEEMA seeks extended tax holiday for power projects

Ahead of the Budget 2012, the apex body of the domestic electrical equipment industry IEEMA today sought extension of the tax exemption to all power projects, including generation, transmission and distribution.


IEEMA seeks extended tax holiday for power projects

The Indian Electrical and Electronics Manufacturers Association (IEEMA) demanded extension of tax exemption to all power projects in line with other infrastructure projects like roads, airports, ports, railways, a press note from the body said today.

"The electrical equipment manufacturing industry suffers a substantial cost disadvantage of 14 percent vis-a-vis imports due to the levy of several local taxes," IEEMA president Ramesh Chandak said.

He said the government should provide a level-playing field to domestic manufacturers as per the recommendations of the Arun Maira committee by levying customs duty at 10 percent and special additional duty (SAD) at 4 percent and waiving of the countervailing duty (CVD) on all categories of power projects.

(Continued)

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