Hiking Customs Duty on Tiles & Ceramics in Budget 2019 is welcome: Kamlesh PatelKamlesh Patel | Updated: 05-07-2019 20:30 IST | Created: 05-07-2019 19:20 IST
"FM move to increase Basic customs duty on tile and ceramic products to 15 per cent from existing 10 per cent will safeguard the domestic ceramic tile industry from the cheap imports and will strengthen the domestic industry. Tax reforms and tax simplification measures especially moving to electronic invoice system from January 2020 will significantly reduce the compliance issues," said Kamlesh Patel.
He further added, "Enhanced interest deduction up to Rs. 3.5 lakh for purchase of the affordable house will translate into a benefit of around 7 lakh to the middle-class home-buyers and help in achieving 'Housing for All'. Indian Ceramic industry would aim for a green and environment complaint industry and will continue to play an important role in the economic growth in the future and aim for global leadership in the industry and success of 'Make in India'. "