Union Budget 2016-17 proposals pertaining to the Plastics Industry

02-Mar-16

The Union Budget 2016-17 incorporates the following proposals pertaining to the Plastic Industry, as per OPPI 1. Notification No. 12/2016 – Customs dated 1st March 2016. As per this notification the Customs Duty on Capacitor grade polypropylene granules or resins (HS Code: 3902) for the manufacture of capacitor grade plastic film has been exempted. The Customs Duty on Super absorbent polymer (SAP) (HS Code: 3906 90 90) imported for use in the manufacture of the following items has been reduced to 5%: i) Adult diapers; ii) All goods falling under chapter heading 9619, other than adult diapers. 2. Notification No. 12/2016- Central Excise dated 1st March 2016. The Central Excise duty on sacks and bags (including cones) of Polymers of Ethylene (HS Code: 39 23 2100) and of other plastics (HS Code: 39 23 29) has been revised to 15%.