Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: form 3cd :: Central Excise rule to resale the machines to a new company :: VAT RATES :: empanelment :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: VAT Audit :: due date for vat payment :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: cpt
 
 
Customs and Excise »
 Govt to give customs, excise duty benefits to boost solar rooftop sector
 Clarification regarding posting of Central Excise officer in Cigarette units-reg.
 Ensure transparency in excise department working: Bizmen to government
 It is time to review the customs duty on essential food imports
 Migration to GST of existing Central Excise / Service Tax Assessees
 Rate of exchange of conversion of the foreign currency with effect from 3rd February, 2017
 Budgetary Changes In Customs
 Customs and excise officials upset with GST administration deal with states
 Higher petro excise props up govt tax kitty
 Seeks to further amend notification No. 02/2011-Central Excise dated 1st March, 2011.
  Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016

FM to reduce excise duty
December, 30th 2009

In a bid to get a competitive edge in the domestic market, corrugated box manufacturers in the country have asked the Union finance ministry for decreasing excise duty on the industry by 50%. The Rs 7,500-crore industry is facing competition from paper mill owners, who have started manufacturing corrugated boxes while enjoying less excise duty.

The paper mill industry in the country pays a maximum of 4% excise duty while their first 3,500-tonne production attracts zero duty for the industry. Corrugated box industry pays a maximum of 8% excise duty.

This anomaly in duty structure has prompted paper mill owners to start manufacturing corrugated boxes while enjoying a lower excise duty.

This has put the future of corrugated box manufacturers at stake, said RG Agarwala, president of the Federation of Corrugated Box Manufacturers of India (FCBM).The federation has almost 2,000 registered members while 1,500 others are yet to register.

We have submitted a memorandum listing some of the demands to finance minister Pranab Mukherjee. These paper mills can clear corrugated boxes at a rate of 4% irrespective of the fact whether they make it on their own or outsource the job. We can have a level playing field only when the excise duty on us is reduced to 4%, Agarwala said.

Corrugated boxes, used primarily by the FMCG and white goods industries for packaging, are converted from kraft paper and board as kraft paper is fluted on a corrugation machine to form a board, using adhesive to bond layers of paper.According to Agarwala, 4% reduction in the excise duty would translate into a minimum of 5% reduction in the costs which would help in lowering the price.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions