Inverted duty on washing machines, furniture, paper may be reviewed

PTI

New Delhi, May 22

The government is likely to consider addressing the issue of inverted duty structure for certain products like paper, furniture, washing machines, solar glass, and air purifiers to promote domestic manufacturing, an official has said.

Inverted duty structure refers to taxation on inputs at higher rates than finished products that result in the build-up of credits and cascading costs.

The official said the Commerce and Industry Ministry has shared a list of products with the Finance Ministry to look at the inverted duty structure issues. The list was shared after holding detailed consultations with industry associations and export promotion councils.

“The list to the Finance Ministry includes paper, furniture, washing machines, etc,” the official said.