Budget 2016 – Change in Excise Duty

 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

  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

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