Stone business in India is severely impacted by warning import policy on natural stones such as granite and is unable to struggle with China and other countries. Granites and limestone Association has been demanding the central government to lay the granite industry, which is largely situated in South India, under the Open General License list to facilitate smooth sell overseas importing marble from Indias and re-export granite. As for marble imports, the government issues accredit which has benefited only one State such as Rajasthan, thus creating advertise imbalance in the country. In order to address the interest of marital producers the basic customs duty on significance of granite slabs is being twofold from 10 per cent to 20 per cent.
Also to remove warning import policies, improve road infrastructure as high move cost is hurting the business, increase power cohort and distribution and start training courses to produce job opportunities in the industry. In order to talk to the attention of home producers the basic customs intelligence of duty on import of marble slabs is being doubled from 10 per cent to 20 per cent. Raw resources (blocks of marble, granite, lime stone etc), which cannot be used as it is, to be method and has to be allotted in OGL. Whereas the importation of processed and finished stone products can be synchronized to protect the interesting local industries either through certify or by higher tariff in the present policy framework, which has been side-stepped.
Most of the licenses connected to granites and stone industry are subjected by the Union Commerce Ministry and by the Director-General of Foreign Trade. The current rule instead of benefiting the wide spectrum of associate of the industry based on their performance has resulted in benefiting a discriminating few members of the industry. For example in order to understand what reimbursement you can avail, it is necessary to know if the goods in question are: nationally procured or imported, processed finished goods or natural raw materials. Yet I will nonetheless try to coat all the points associated with the exemptions/ benefits on hand to an exporter in India, hopefully that will help answer your question at a little point.
The problem of the payment of excise duty rests with the maker to import of marble slabs in India. In case your goods are processed and finished goods (like cute and genteel marble or granite geared up to be sold in the market) then they will be subject to excise duty. However on the other hand the uncut and unrefined raw materials do not suffer excise duty. In this box if the raw materials were imported and cut or polished or even if domestically procured and refined and cut thereafter, then the customs and the remove duties livable on them shall be refunded. The input here will also comprise the machineries and plants which are used to cut or polish these materials future for export.
