custom duty

This query is : Resolved

harsh jain (Querist)
Follow

06 July 2011
(March 01, 2011) Union Budget 2011-12: Indirect Taxes

The budget proposals have a largely neutral impact on the paper industry.

Excise Duty:
The excise duty on paper and paperboard has been increased from 4% to 5%.

(Notification No 2/2011 - Central Excise Dated 1st March , 2011)
Customs Duty:
The basic custom duty on paper and paper board has been retained at 10%.

The custom duty on wood pulp has also been retained at 5%. However the custom duty on waste paper has been reduced from 5% to 2.5%. MEANING

S.P.Mahanta

S.P.Mahanta (Expert)
Follow

07 July 2011 Wood pulp is input material in paper industry. The rationale behind retaining Custom duty at 5% on wood pulp & reducing CD on waste paper from 5% to 2.5% is to conserve natural forest & maintain ecological balance.