INDIA BUSINESS WORLD - FEBRUARY 16th - FEBRUARY 29th
- 2008
EXCISE HIGHLIGHTS IN BUDGET 2008
General CENVAT rate reduced from 16 per cent to 14 per cent. Excise duty has been reduced for the following items:
a. Two Wheelers from 16 per cent to 12 per cent
b. Small cars from 16 per cent to 12 per cent
c. Hybrid cars from 24 per cent to 14 per cent
d. Pharmaceutical products reduced from 16 per cent to 8 per cent
e. Crude and unrefined sulphur from 5 per cent to 2 per cent
f. Buses and Chassis from 16 per cent to 12 per cent
g. Paper board from 12 per cent to 8 per cent
h. Writing and printing packing papers from 12 per cent to 8 per cent
i. water purification devices, sterile dressing pads, breakfast cereals from 16 per cent to 8 per cent
Duty rates have been increased for the following items:
a. Packaged software by about 4 per cent
b. On non-filtered Cigarettes.
Exemption has been granted for the following items:
a. wireless data card, composting machines, coconut water, tea and coffee premixes
b. Anti-AIDS drugs
c. Refrigeration units above two tonne capacity
Others
a. Bulk cement Rs. 400 / MT or 14 per cent Advalorem whichever is higher
b. Packaged cement Rs. 450 / MT
c. Unbranded petrol @ 14.35 / Lt instead of Advalorem. However, no effect on end consumers
d. unbranded diesel @ 4.60 / Lt instead of Advalorem. However, no effect on end consumers
e. NCCD on cellular phones imposed
f. NCCD on polyester yarn withdrawn
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