New Delhi, Aug 25 (Calcutta Tube) Import of steam coal should be exempted from customs duty to make the power generated out of such projects more affordable for the masses, says the industry lobby, Associated Chambers of Commerce and Industry of India (Assocham).
Currently, the customs duty on import of stem coal is 5 percent.
Assocham Secretary General D.S. Rawat said a huge number of steam coal based power projects are slated to be set up to meet the country’s growing demand for electricity.
And the levy of basic custom duty on import of stem coal would result in higher cost of production and adversely impact competitiveness of Indian industry.