Tuesday, May 15, 2012

CUSTOMS DUTY ON POWER EQUIPMENT PUT ON HOLD

The government has put on hold its plan to levy duty on import of power equipment by all
developers to protect the interest of domestic firms, such as BHEL and L&T. The concern is that once the duty is imposed, the changes will dilute the government`s mega power policy, which offers benefits to big thermal & hydro power projects by way of a tax holiday for 10 years and customs waiver equipment imports.

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