Business

Tariff Commission To Study Inverted Duty Structure Of Various Products For Correction

Tariff Commission, under the Ministry of Commerce and Industry is currently in the process of studying Inverted Duty Structure (IDS) of various products which is often reported by the industry. The Commission will make the findings of the study part of their Action Plan for 2016-17. The Tariff Commission takes up studies and recommends changes in tariff for addressing Inverted Duty Structure (IDS) of various products with a view to enhance competitiveness of the industry sectors. These studies form an important input to the Union budget making process every year.

The Commission wants to identify the list of items for which study of IDS on manufactured items could be done during 2016-17 and has asked FICCI to submit the list of products where inverted duty exists in manufacturing. Textile industry, especially the synthetic fiber sector, has often complained about duty inversion in the value chain. In this year’s budget, many cases of duty inversion have been corrected and remaining anomalies would be ironed out in the next year’s budget.