Date:06/03/2007 URL: http://www.thehindubusinessline.com/2007/03/06/stories/2007030603680300.htm

Back `Govt will correct duty flaws'

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MR K.M. CHANDRASEKHAR, Revenue Secretary; flanked by Mr Sunil Kant Munjal (left), Past President, CII; and Mr S.S. Mehta, Director General, CII, at a seminar on the Union Budget in the Capital on Monday. — Ramesh Sharma

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New Delhi March 5 The Government is committed to correcting any inverted duty structures that may have arisen in the Budget, Mr K.M. Chandrasekhar, Revenue Secretary, said today.

Addressing a CII seminar on the Budget, Mr Chandrasekhar said that the Government has made every effort to ensure that there are no anomalies arising out of reduction of peak Customs duty on non-agricultural products.

In Budget 2007-08, the Government has reduced peak Customs duty on non-agricultural goods from 12.5 per cent to 10 per cent.

However, Mr Chandrasekhar said that if detailed working on adverse effects on specific products were provided, the Government would consider them seriously.

He requested industry to send details on each affected sector.