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HYDERABAD, March 10

THAT a change of heart has taken place in the Government is evident from the recent Union Budget which has turned the Central Excise and Customs apparatus industry-driven with a number of tax relaxations and it is for the industry to perform at least to the expected levels, according to Mr Subrata Basu, Commissioner of Central Excise and Customs.

Explaining the changes in indirect taxation to industrialists here, he said the Budget was not insipid as alleged by some people but a vibrant one, which had considered the ground realities of the manufacturing sector. The competition from MNCs was now in the domestic market, and not limited to the external markets.

As the cost of compliance of tax had been reduced in the Budget, it was incumbent on the industry to strive hard, produce quality products at competitive prices and spur revenue buoyancy, Mr Basu said.

Mr S. Thirumalai, President of the Federation of the Andhra Pradesh Chambers of Commerce and Industry (FAPCCI), said that specific steps were needed to plug leakages in the system resulting in Cenvat credit entitlements. They were resulting in shortfall in revenue collections.

He wanted the availability of revenue receipts commodity-wise at least on the Web as its publication was suspended a couple of years ago.

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