Govt. mulls withdrawal of import duty on used cooking oil
Imported fried oil is used in making bio-diesel. It is cheaper than petroleum diesel by Rs.3-4 per litre, and withdrawal of import duty will bring down its price down further by Rs.6-7 per litre, says Union Transport Minister Nitin Gadkari The Dollar Business Bureau In August last year, the Ministry of Petroleum and Natural Gas had allowed marketing of high-speed diesel blended with bio-diesel from select retail outlets in New Delhi, Vishakhapatnam, Haldia and Vijayawada In order to promote the use of bio-diesel and check pollution, the government is mulling withdrawal of import duties on used cooking oil, which is used as cheap fuel for transportation. “I have requested the Commerce and Industry Minister Nirmala Sitharaman to withdraw duties on ...
Long-term tax incentives planned to promote clean fuel
It is raining tax incentives for Corporate India. Close to the latest development of the Vodafone tax case where the Government of India did not contest a verdict given in favour of the telecom major by the Bombay High Court on transfer pricing, the Centre is pitching for long-term tax incentives for clean fuel engine manufacturers as well as suppliers of bio-diesel, ethanol and other such fuels. The Dollar Business Bureau "Prime Minister has directed Finance Minister (Arun Jaitley) and me to prepare a policy to promote clean fuel. I have written to FM for tax exemption to manufacturers of clean fuel engines and suppliers of such fuel for five years which can be extended to another five years," said Nitin ...
