Will suggest correction of duty inversion in some electronics and leather goods: Rajesh Kumar Singh, DPIIT
DPIIT) will suggest the finance ministry to correct duty inversion in some electronics and leather goods in the upcoming customs duty review and is also looking at suggestions on a crackdown on tobacco firms' proxy ads, DPIIT secretary Rajesh Kumar Singh said. In an interview, he also told ET that the government has instruments such as Quality Control Orders (QCO) and import tariffs to trigger investment decisions. Edited excerpts:
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Angel tax is proposed to be done away with. What happens to the past cases? Are you talking to the finance ministry for favourable treatment towards them?
We have done whatever we can on the angel tax issue to give startups some relief. In the older cases, there could be some technical reasons why it is difficult to do these things from a backdate because it has some implications for other such cases. I'm going to leave that to the Department of Revenue. I don't intend to take that up. It is for them to take a call.
The finance minister spoke about FDI reforms...
As of now, the focus is on procedural changes. The idea is to have some standard operating procedure of three months' time to process clearances which we will try to enforce more strictly. In terms of actual sectors, we don't have any finality.
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