Is plastic scrap business profitable in India?
Plastic recycling has long been touted as a profitable business, and it can be very lucrative. To make the most profit, you have to put time, effort and investment into the sorting process, which, for most smaller recycling businesses, is done manually.
How can I sell recycled plastic in India?
Here is how you can get into this business.
- Research. The recycling market is new and has not gained much attention yet.
- Make a business Plan. Make a plan, contact NGO’s or talk to some local volunteer who can help you in gathering the plastic across.
- Location and License.
- Equipment.
- Promote.
What is price of 1kg plastic?
Questions & Answers on Plastic Scrap
Color | Min Price | Max Price |
---|---|---|
Natural | Rs 60/Kg | Rs 95/Kg |
White | Rs 56/Bag | Rs 70/Bag |
White | Rs 45/Kg | Rs 125/Kg |
White | Rs 10380/Ton | Rs 17625/Ton |
What is the GST rate for plastic scrap?
5\%
GST Rate Chart for Scrap Materials
HSN Code | Description of Goods | GST Rate as applicable |
---|---|---|
3915 | Plastic waste, parings or scrap | 5\% (now proposed to be changed to 18\%) * recommendations of 45th GST Council meeting |
4004 | Rubber waste, parings, or scrap | 5\% |
4017 00 20 | Hard Rubber waste or scrap | 5\% |
4401 | Wood Scrap | 5\% |
Is there any subsidy for e-waste recycling projects?
Yes there is a subsidy for e-waste recycling projects. The subsidy is from both the central government as well as the state government. The central government gives a subsidy of 25\% or equivalent to the state subsidy whichever is lower. Also please note that the subsidy is for plant and machinery only.
How much plastic waste is generated in India every day?
India generates 25,940 tonnes of plastic waste every day, according to a Central Pollution Control Board (CPCB) estimate from 2012. 94 percent of this is thermoplastic, or recyclable materials such as PET (polyethylene terephthalate), and PVC (polyvinyl chloride).
How to recycle plastic in the chemical industry?
Mechanical recycling methods to make plastic products and feedstock recycling methods that use plastic as a raw material in the chemical industry have been widely adopted, and awareness has also grown recently of the importance of Thermal recycling as a means of using plastics as an energy source to conserve petroleum resources.
What is the subsidy for cold storage in India?
You can apply for the subsidy for the cold storage component that is not more than 75\% of TFO (Total Financial Outlay). The scale of assistance as a subsidy to projects is @ 25\% of the capital cost and maximum ceiling to Rs 2.25 crores in the general area.
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