: Concern raised over 20% capacity utilisation norm for e-waste #finance #StockMarketNEWS #Business Panaji: The recycling industry during the concluding session of the Recycling Business Summit 2021

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Concern raised over 20% capacity utilisation norm for e-waste #finance #StockMarketNEWS #Business
Panaji: The recycling industry during the concluding session of the Recycling Business Summit 2021 in the state, on Wednesday, expressed concern over the 20 per cent capacity utilisation norm for e-waste.



According to the industry, the norm is hampering e-waste recycling despite India being the 3rd largest e-waste generator in the world.



The industry also raised the issue of GST on e-waste, pointing out that GST on purchase of e- waste is five per cent, the GST on finished goods sold by the recyclers is 18 per cent. Hence, most kabadiwalas buy at five per cent and sell the finished goods for cash.



“Organised recyclers find it difficult to sell the downstream materials at a better rate, and it results in revenue loss to the exchequer due to the GST rate flaw,� said participants at the summit



A session on plastic recycling highlighted the proposed BIS standards being imposed on non-prime scrap material with effect from October 15 2021.



“Such imposition will have an adverse impact on 75,000 MT export of plastic market and 5000 MSME plastic recycling units which provide the huge employment to ragpickers and more women from the weaker section of the society,� said Prabhjot Sodhi, senior director, Centre for Environment Education.



Earlier, during the summit, the recycling industry decided to come together against the upcoming standardisation for scrap. The Recycling Business Summit 2021, was held by the Material Recycling Association of India (MRAI).
The post Concern raised over 20% capacity utilisation norm for e-waste appeared first on The Navhind Times.

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