rubber wood based plywood will be taxed at a rate of 28%, something that has alarmed the businessmen in this industry. According to Jose Chacko, an entrepreneur dealing in plywood, Majority of the factories that manufacture the plywood were out of the purview of excise since the annual turnover for most of the units is less than 1.5 crores. These units did business with the neighbouring states paying 2 per cent for the central sales tax. From 2 per cent the manufacturers will have to pay 28 per cent which is going to be a big pain for the industry.
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Power2SME Private Limited (Power2SME Private Limited)
Ground Floor, Plot No. 88, Udyog Vihar Phase IV, Gurugram, Delhi - 122015, India
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