IGST cut: Why industry's pitch for import duty hike may be misplaced

Importers pay Integrated GST (IGST) on top of customs duty at the time of importing goods

Pitch by businesses for an import duty hike after goods and services tax (GST) rate cut on over 100 items in the last Council meeting appears misplaced with no apparent correlation between lower integrated GST (IGST) and increase in imports. 

The Central Board of Indirect Taxes and Customs (CBIC) chairman S Ramesh had last week said that the government will look into the suggestions of hiking import duty on consumer durable items to protect the domestic industry which seeks an increase in customs duty for protection from cheap imports. 

In the last meeting, GST Council had decided to cut tax