Our Bureau

Mumbai, March 6

The Bombay Metal Exchange Ltd along with all other allied non-ferrous metals, stainless steel associations has decided to observe one-day token Bandh on March 20 to strongly register their protest against Octroi and demand total abolition of Octroi.

All the associations of Maharashtra are heading for a mass agitation for the total abolition of Octroi under the banner of `Maharashtra Rajya Jakat Nirmilan Samiti'.

"Peaceful morchas headed by various associations will march towards Azad Maidan. There will be mammoth gathering of all the trade, showing their unity and solidarity, to strongly register their protest against Octroi and demand total abolition of Octroi," Mr Rohit Shah, President, Bombay Metal Exchange (BME), said in a release.

Meanwhile, additional 4 per cent CVD has been levied in the recent Union Budget 2006-07.

"We understand that this 4 per cent additional duty is modvatable to the manufacturers, but what about the registered dealers? There has been no mention about registered dealers. Hence, the exchange strongly demands benefit of passing 4 per cent additional duty like manufacturers also to be extended to the registered dealers," he said.

(This article was published in the Business Line print edition dated March 7, 2006)
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