INDIAN PERFUMERY AND COSMETICS SECTOR BRACES FOR RAW MATERIAL IMPORT CHALLENGES WITH NEW GST HIKES
February 1st, 2018
THE INDIAN perfumery and cosmetics sector is facing increased taxation and shortage of raw material supplies even as it is yet to cope with the functioning of the country’s new Goods and Services Tax (GST).
In the national budget presented on February 1, Indian finance minister Arun Jaitley doubled the customs duties for cosmetic and toiletry preparation products from 10% to 20% “to provide adequate protection to the domestic industry”. The affected products include perfume and toilet water, beauty and make up products, including those for haircare, ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.