THREE-TIER EXCISE DUTY STRUCTURE PROPOSED

Article Abstract:

The committee on excise structure rationalisation has recommended that the existing 20 and odd rates of excise duties be reduced into three groups with rates of 5 percent, 15 percent and 25 percent. The restructuring be completed within five years. The committee, set up by the Indian Government, consisted of officials and industry leaders. The committee has stipulated the criteria based on which each commodity to be placed in any of these three groups. The five percent excise duty mooted to be imposed on a commodity which is consumed by commonman or rural population. (um)

Comment:

The committee on excise structure rationalisation has recommended that the existing 20 and odd rates of excise duties be reduced into three groups with rates of 5 percent, 15 percent and 25 percent.

United States, Government regulation, Administration of General Economic Programs, Tariffs & Duties

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TELSTRA VISHESH TO ENHANCE PAID-UP CAPITAL

Article Abstract:

The paid-up capital of Telstra Communications Ltd (TCL) is being increased to Rs37 crore from Rs23 crore to meet its increased working capital needs. The proposal has been cleared by the Foreign Investment Promotion Board (FIPB) of the Government of India. Consequently, the 40 percent equity in TCL will increase to Rs14.8 crore from Rs 9.2 crore. TCL is collaborating with a foreign company for setting up a V-Sat network to provide value-added services. (uh)

Australia, Financial management, Satellite Communications, Satellite Telecommunications, Telstra Corp.

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