Cement companies blame dual pricing for inability to cut prices
05 Mar 2007
Cement manufacturers have blamed the differential duty structure announced in the Budget proposals for not being able to roll back the increase in cement prices.
Within a day of the new duty structure having been announced, cement manufacturers raised their prices by Rs10-12 on a 50 kg bag of cement.
The
government had introduced a dual excise duty structure
based on the price of cement. For cement priced above
Rs190 per 50kg, the duty was reduced from Rs400 to Rs350
per ton and raised to Rs600 rupees per tonne for cement
priced above Rs190.
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