Business Daily from THE HINDU group of publications
Thursday, Dec 20, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Dec 20, 2007 ePaper | Mobile/PDA Version |
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Industry & Economy
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Excise and Customs Agri-Biz & Commodities - Tobacco Compound levy scheme for pan masala, gutkha Our Bureau New Delhi, Dec. 19 The Centre has introduced an optional compounded levy scheme for pan masala and pan masala containing tobacco (gutkha). The scheme provides for payment of duty on the basis of number of packing machines installed in the factory premises of manufacturer of these goods. “The notification dated December 19, 2007 has provided for an option for payment of Rs 12 lakh as duty per month per packing machine per line for gutkha pouches of retail selling price (RSP) up to Rs 1.50. Similarly, the duty per machine per line per month for pan masala pouches carrying RSP up to Rs 1.50 has been fixed at Rs 10 lakh. Different duty slabs have been provided for pouches priced up to Rs 6. In case of multiple track or line packing machine, the rate of duty would be multiplied accordingly,” an official statement said. A manufacturer opting for this scheme has to file an application giving details of the packing machine installed in the factory to the jurisdictional Assistant/Deputy Commissioner of Central Excise. Once this option is exercised by a manufacturer, it will remain effective for the entire fiscal. Any addition or removal of packing machines can be made only under the physical supervision of the officer authorised for this purpose, the statement added. More Stories on : Excise and Customs | Tobacco
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