The Hindu Business Line : Penalty on Tata Chem set aside

A Central Excise order to Tata Chemicals demanding Rs 557 crore as duty has been quashed by the Central Excise and Service Tax Appellate Tribunal (CESTAT), according to a company statement.

The Commissioner, Central Excise Haldia Commissionerate, Kolkata had passed the order in April 2006 demanding duty of Rs 278.35 crore and penalty of equal amount for the period between 1999 and 2005, the statement added. "It was the contention of the Department that Cenvatable inputs have been used in the manufacture of fertiliser, which is exempt from duty." The issue was contested by Tata Chemicals before the Kolkata bench of CESTAT.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Fire at membrane cell plant hits Travancore Cochin Chem output

Hotel Leelaventure plans $100-m FCCB issue

Tata to regain goods in HM factory

Alleged violation of wage accord by company

Zydus Cadila acquires Japan's Nippon Universal

Shareholders, creditors clear IPCL-RIL merger

Philips India eyeing buyouts for growth

Penalty on Tata Chem set aside

Praj entering into joint venture with Aker Kvaerner

Simplex Projects, Dutch co join hands for parking solutions

Workshop on academic interface

Meet on materials management

Nissan plans compact car segment entry

Dr Lal PathLabs plans laboratory for clinical research

Anil Singhvi may quit Guj Ambuja