RSS Feed (xml)

Powered By

Skin Design:
Free Blogger Skins

Powered by Blogger

Tuesday, February 24, 2009

Govt tek on Financial crisis

24 Feb:Govt. showing some concern over financial crisis and slashed the excise duty, service tax to boost ailing sectors even during the widening fiscal deficit.

Announcements that were made:
  • 4% across the board excise duty cut to be continued beyond 31st March 2009.
  • To cut service tax by 10%.
  • To cut excise duty by additional 2%.
  • Excise duty on bulk cement to be 8% or Rs. 230 per metric tonne whichever is higher.
  • Naphtha exempted from customs duty to provide relief to the power sector, extends customs duty in Naphtha beyond March 31,2009.
Industrial s have welcomed this announcements but feel this too less to be happy, they had expected a little more Govt.
But yes we common are happy, atleast some thing is done by the Govt., else we had no expectations.

No comments: