New Delhi. Companies making consumer electronics and appliances have urged lower taxes on environmentally friendly and energy efficient products. Also, in the budget presented this week, there is a request for exemption from customs duty on raw materials used for manufacturing and incentives for domestic manufacturing. The Consumer Electronics and Appliance Manufacturers Association (CEAMA) has asked the government to encourage the manufacture of energy efficient products in a pre-budget memorandum.
He says that this would be in line with the government's goal of sustainable development. Kamala Nandi, President of CEAMA said, 'The GST rate for environmentally friendly and energy efficient products like air conditioners (4 star, 5 star) and refrigerators will be increased to 12 percent and customers will be motivated to take such products. He said that in the coming budget, manufacturers should be given separate incentives to manufacture such products. Finance Minister Nirmala Sitharaman will present the budget of 2020-21 on February 1. According to CEAMA, industry growth this year has been steady and it will be difficult to predict demand levels for the next year, given the increase in customs duties, global economic challenges and currency fluctuations.