Industry & Economy
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Fertilisers
Fertiliser association seeks exemption under VAT regime
Our Bureau
New Delhi
,
Dec. 9
THE Fertiliser Association of India (FAI) has said that if the Government wants to reduce fertiliser subsidy Bill, it should come out with a rationalised hydrocarbon policy without further delay.
The high prices followed by steep periodical increases of hydrocarbon prices is one of the main reasons for rise in the fertiliser subsidy, the FAI Chairman, Mr H.C. Grover, told newspersons here.
The FAI also wants rationalisation of the duty structure. It wants exemption from various State and Central levies. Particularly, now that the Central and State Governments are in the process of formulating rules and regulations for the value-added tax system, the Centre and States should agree to exempt fertilisers and major inputs from levies, he said.
If the Government can ensure priority allocation of APM gas for the entire requirement of the fertiliser industry, including plants currently based on naphtha, fuel oil/LSHS and meet the shortfall, if any, by priority allocation of LNG at reasonable rates, the cost of fertiliser manufacturing and consequently the fertiliser subsidy can be reduced significantly, he said.
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