PRESIDENTS DESK

 

From the President’s Desk

 

Dear Members,

 

The Union Budget for the year 2020 – 2021 will be tabled by Finance Minister on February 1,2020.

Organization of Plastics Processors of India has made the following Proposals for Union Budget 2020 – 2021.

  1. Government of India should not increase import duty on polymers (raw material) in order to save domestic plastics processing industry.

 

•              Import duty on PE and PP should be kept at 7.5%

•              Import duty on PVC should be reduced from 10% to 7.5%

•              Import duty on PET should be kept at 5%

•              Import duty on SAN, ABS should be brought down to 5%

•              Import duty on Polystyrene should be kept at 7.5%

 

2. Delta of minimum 10% should be maintained between custom duty on raw material and plastics  finished goods. 

 

3. Impose Anti-Dumping or Safeguard Duty on import of cheap Finished Products.

 

4. All existing FTAs should be reviewed and plastics finished /semi-finished goods should be excluded from all FTAs.

 

5. BIS Standards should be made mandatory for Import of Plastics finished goods.

 

6.  Long pending proposal for Technology Upgradation Fund for plastics industry needs to  be implemented immediately.

 

Our Wish – List is as follows:-

 

•              Cut in Personal Income Tax

•              Change Taxation of Dividends

•              Remove Long – Term Capital Gains Tax

•              Dispute settlement scheme for Customs and Direct Tax

•              Remove Anomalies in Customs Duties.

•              Extend sunset clause for SEZs for 5 years.

 

Commerce and Industry Minister Shri Piyush Goyal has warned against imports under the ‘others’ category, saying high duty will be imposed within a month on products categorised as ‘others’ if they do not carry globally accepted tariff codes.

 

The minister said that importers will need a special licence from the ministry for import of such products, without which “one cannot import any product in the ‘others’ category”.

 

Of over $500 Billion worth of imports in 2018-19, the “others” category accounted for goods worth over $100 Billion.

 

Organization of Plastics Processors of India welcomes the aforesaid announcements made by the Hon’ble Commerce and Industry Minister.

 

 

With Best Wishes,

 

 

Dharmendra Gandhi

President