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Mixed reaction to excise duty parity on cement

The cement industry remained somewhat divided on the impact of excise duty parity on bulk and packaged cement and the hike in the duty on clinker. Mr Sumit Banerjee, Managing Director, ACC, said as a product of mass consumption which is already among the highly taxed, cement has received some more indirect tax loading by way of hike in Cenvat rates for clinker and bulk cement.

Mr Vinod Juneja, Managing Director, Binami Cements, said, “In fact, there was a valid case to bring down excise duty on cement to six per cent to give a boost to the infrastructure development. With firm competition from Southeast Asia, China and West Asia, both the industry and the government must work hand-in-hand to tackle the issue.”