Kathmandu, June 9
The government has been asked to remove the higher customs levy on raw material imports by the GI and gabion wire production businesses.
The industries have released a joint statement claiming that the government’s policies would be hampered and demanding that the 10% tax be removed and the 1% fee be maintained.
The government imposed a 10% customs levy on the import of raw materials used in the
manufacturing of GI and gabion wire under Fiscal Bill 79-80.
One percent is charged to industries that manufacture high-quality MS wire rods for GI wire
manufacturing. Excise duty has been removed, as well as a 15% discount on power.
Industrialists, on the other hand, have accused the government of destroying established
industries by granting exemptions to them. The government’s policy serves as a message to businessmen that it will be disruptive. According to him, the rise in customs tax would raise the price of made wire, lower the quality, and raise the development costs.
At the same time, manufacturers have demanded that the 15% export levy imposed by India on imports be removed since it is harming the industry.
Industrialists, on the other hand, have accused the government of destroying established
industries by granting exemptions to them. The government’s policy serves as a message to businessmen that it will be disruptive. According to him, the rise in customs tax would raise the price of made wire, lower the quality, and raise the development costs.
At the same time, manufacturers have demanded that the 15% export levy imposed by India on imports be removed since it is harming the industry.
