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Union Budget: `Concessional duty withdrawal will hit metal processors'

Our Bureau

Coimbatore , March 3

THE Coimbatore-based small-scale metal processing units using steel have said that they are badly hit by the Union Budget 2005-06, which has withdrawn concessional excise duty for units showing turnover above Rs 1 crore but below Rs 3 crore.

The Budget has withdrawn the 9/2003 excise notification which permitted the SSI units with turnover up to Rs 3 crore to pay only 60 per cent of the normal excise duty on their first Rs 1 crore clearance with Cenvat credit facility.

The proposal has withdrawn the 40 per cent (of the normal) concession, leaving the SSIs the option of either taking full excise duty exemption (without Cenvat) up to Rs 1 crore turnover (first clearance) or pay duty from day one.

The removal of duty concession on this count would maul the profitability of the SSIs, leading to their sickness, said Mr R. Virendra Kumar, President of Metal Processors Alliance, Coimbatore. He wanted the concessional duty scheme to be continued.

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