Budget 2016 – Change in Excise Duty

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 Basic Excise Duty increased on pan masala [2106 90 20] from 16% to 19%.  Accordingly, the duty leviable under the compounded levy scheme has also been modified. Excise duty on “waters, including mineral waters and aerated waters, containing added sugar or other sweetening


BUDGET 2016- Change in Customs Duty

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  Basic Custom duty on cashew nuts in shell classifiable under CTH 0801 31 00  increased from Nil to 5%. Basic Customs duty on denatured ethyl alcohol (ethanol) classifiable under CTH 2207 20 00 reduced from 5% to 2.5% for

SVBs Revampled

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CBEC, in much relief to trade ind Industry,  has overhauled the procedure with regard to functioning of SVBs.  The salient   features of new procedure are as under.   No Control of the DGOV: The  control of SVBS was entrusted to Director