Cement News tagged under: trading
India: Industry wants service tax cut to eight per cent23 June 2009, Published under Cement NewsAlthough a large section of the industry has expressed its wishlist for the general Budget, a review of service tax tops the demand with several quarter petitioning reduction in the rate from 10 per cent to about eight per cent in the indirect tax to bolster sagging demand for industrial goods and services. Arvind Pradhan, director general of the Indian Merchants Chambers (IMC) said that the trade body has pleaded for reduction of service tax from the present rate of 10 per cent to eight pe... |
Pakistan: cement exports rise to US$750 million23 June 2009, Published under Cement NewsThe cement industry, despite being affected by the global economic crisis, has managed to boost exports to US$750m in fiscal year 2008-09. “Being an irregular sector if compared with textile, the cement industry increased exports to US$750m,” a senior official at the Ministry of Industries told The News. “Though the industry has been given relief of INR200/t in central excise duty, it is to be fully passed on to end-consumers. This means the price of a cement bag will fall by INR10 from Jul... |
Algeria to import 1Mt of cement to counteract market speculation22 June 2009, Published under Cement NewsThe Algerian government will import 1mn tonnes of cement to counteract the speculation in the national market, Algeria’s PresseArabe cited industry and investment promotion minister, Hamid Temmar, as saying at a news conference. Temmar added the government has taken a measure to put a ceiling on cement prices and the margins of the different operators in the national cement market through a decree to be published soon. The minister made the announcement at a news conference held at the end... |
India: cement industry for restoring import duty22 June 2009, Published under Cement NewsThe cement industry has urged the finance minister to levy uniform excise duty on packaged cement and to restore import duty on the product in the forthcoming budget. In its pre-budget memorandum, the Cement Manufacturer’s Association (CMA) has asked for an abatement of 55 per cent on excise duty on the product, as recommended by NCEAR. "Whenever excise duty is levied on the basis of MRP, an abatement is given, but no abatement has been given to the cement industry, though excise duty is le... |
Guyana admits breaching treaty18 June 2009, Published under Cement NewsThe Caribbean Court of Justice (CCJ) has reserved judgment in the closely watched case of Trinidad Cement Ltd (TCL) and TCL Guyana Incorporated (TGI) against the Guyana Government over the application of the Common External Tariff. Guyana conceded on Monday at the commencement of the two-day hearing in Trinidad and Tobago that it was wrong for breaching the Revised Treaty of Chagua-ramas by unilaterally suspending the Common External Tariff (CET) on cement imported from countries outside of... |
India: cement players against excise restoration18 June 2009, Published under Cement NewsDomestic cement makers have expressed strong reservations to any move to increase excise duty on cement. They said it would be unfair for the government to target an industry which has managed to do so well in these troubling times. The industry’s reaction has come on the back of the Union finance ministry’s plan to increase central excise duty for selective sectors which have benefited from the fiscal stimulus measures last year. The government had cut excise duty across the board by four ... |
Indian government may restore excise on cement, steel17 June 2009, Published under Cement NewsThe government of India is considering to restore four percentage points excise duty on steel and cement in the Budget, which was removed as part of stimulus packages. To boost the manufacturing sector and arrest slowdown in the economy, the government had cut the excise duty across the board in December by four percentage points as part of a stimulus package. Later again in February, the excise duty was reduced by two percentage points. However, industry feels that any increase in duty no... |
Cement firm fears trade war backlash16 June 2009, Published under Cement NewsLess than three months before the current waiver of the 15 per cent duty on imported cement expires, monopoly producer, Caribbean Cement Company Limited (CCCL), says it is unsure whether it can emerge unscathed from the tussle between governments. The company is expressing fears that the ongoing Caricom trade tussle may end up prolonging the suspension of the common external tariff (CET), which Caricom members are required to impose on extra-regional products. Prime Minister Bruce Golding ... |
Cement firms press for restoration of tariffs15 June 2009, Published under Cement NewsPhilippine cement manufacturers are asking the government to restore tariffs on imports on June 21, as scheduled, instead of prolonging the temporary suspension of duties. The firms, represented by the Cement Manufacturers Association of the Philippines (CeMAP), also asked that cement and cement clinker be shielded from tariff reductions in the future. These moves should protect the country from the dumping of sub-standard, undervalued foreign-made cement and will complement government eff... |
JMA to support cement imports29 May 2009, Published under Cement NewsThe Jamaica Manufacturers’ Association (JMA) is expected to tell Prime Minister Bruce Golding it supports the import of cement into the country, a decision that could cause conflict with its member Caribbean Cement Company Limited (CCC), paper the Jamaica gleaner reported. In a closed door meeting last week, the JMA board decided to support a one-year extension on the common external tariff waiver that would allow importers of the commodity to compete with monopoly producer CCC. Additional... |