gst in india  


VAT Service Tax India
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Justification of GST
Preparation for GST
Purchase Tax of GST
GST Rate Structure
VAT at the Central & State level
Goods & Services Tax Model For India
Central and State Taxes under GST
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Rules for CGST and SGST
Implementation of GST

GST Copper Industry

Indian Scenario: The total production of Copper in India during 2008-09 was approx 7 lac Tonnes.

Issues in context of GST:

Electricity Duty- Nearly 1573 kwh of Electricity is consumed for producing per ton of copper cathode. Presently, set off of Electricity Duty is not available to the producers against their output liability.

The Electricity Duty translates to approx Rs. 315 per MT of Copper’s cost of production.

Proposal: There is a strong case for subsuming Electricity Duty in GST, for meeting the major objectives of GST namely avoiding cascading effect of taxes, simplification and avoiding multiplicity of taxes.

Royalty: Approx. 3.5 MT of Copper Concentrate is required for production of 1 MT of Copper Metal.

Copper Conc. attracts levy of Royalty. In India, only Hindustan Copper Ltd. Is surviving on Indigenously mined copper concentrate while the other players depend on Imported Copper concentrate.

Presently, set off of Royalty paid on Copper Concentrate is not available to the producers against their output liability.

There is a strong case for subsuming Royalty in GST, for meeting the major objectives of GST namely avoiding cascading effect of taxes, simplification and avoiding multiplicity of taxes.

 

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