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BUDGET SYNOPSIS [2001-2002] IMPACT ON PAPER INDUSTRY |
EXCISE DUTY
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The
excise duty on all grades of paper will be 16% except newsprint |
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There
is no excise duty on newsprint |
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Excise
duty exempted upto 3500 MT which shall apply only to the paper and paper board
or articles made therefrom cleared for home consumption from a factory, in any financial year, upto first clearance of an aggregate quantity not exceeding 3500 MT for the paper and paper board or articles made therefrom manufactured starting from the stage of pulp, in a factory, and such pulp contains not less than 75% by weight of pulp made from materials other than bamboo, hard woods, soft woods, reeds (other than Sarkanda) or rags. |
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Basic
excise duty of 16% imposed on corrugated boxes. |
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Excise
duty on High Speed Diesel (HSD) increased from |
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Special
excise duty (SED) imposed on motor spirit |
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The
basic custom duty on all grades of paper continue to be 35% except few grades
of
paper. |
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The
basic custom duty on newsprint, light weight coated paper will be 5%. |
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The basic customs duty on waste paper is 5% with a condition that the importer furnishes an undertaking to the Deputy Commissioner of Customs or the Assistant Commissioner of Customs, as the case may be that such imported goods will be used for the purpose specified and in the event of his failure to comply with this condition, he shall be liable to pay, is respect of such quantity of the said goods as not proved to have been so used, an amount equal to the difference between the duty leviable on such quantity but for the exemption under this notification and that already paid at the time of importation. |
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Related Notifications and Other Details |
| EXCISE DUTY |
| CUSTOMS DUTY |
| SERVICE TAX |
| INCOME TAX |
| MISCELLANEOUS |
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- Ministry of Labour - Govt. of India Notification |
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- Declaration of Rate of Interest to be credited to the EPF for the Year 2001-2002 |
| ECONOMIC SURVEY OF INDIA [2000-2001] |
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