Union Budget cuts duties on polymers to give a boost to plastics industry

摘要

THE Union budget 2015-16 has attempted to remove anomalies in the duty structure prevailing in polymers industry to support the government's 'Make in India' initiative for plastic processing. While basic customs duty (BCD) on isoprene and liquefied butane has been reduced from 5% to 2.5%, BCD on ethylene dichloride(EDC), vinyl chloride monomer (VCM) and styrene monomer (SM) has been brought to 2% from 2.5%. Similarly, basic customs duty on butyl acrylate is being reduced from 7.5% to 5%. Budget Special Additional Duty (SAD) on naphtha, EDC, VCM and styrene monomer for manufacture of excisable goods has been reduced from 4% to 2%.