Financial Daily from THE HINDU group of publications
Monday, Sep 06, 2004
Financial Daily from THE HINDU group of publications Monday, Sep 06, 2004 |
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Taxation Industry & Economy - Exports & Imports Agri-Biz & Commodities - Tea EOUs exempted from paying cess on tea exports K.R. Srivats
New Delhi , Sept. 5 EXPORT-oriented units (EOUs) that export tea produced in the country have cause for cheer. They would no longer be required to fork out cess on such tea exported by them. Informed sources said that the Centre has now exempted all tea produced in India and exported by EOUs from levy and collection of cess. This move of the Centre is seen as part of an overall effort to ensure that taxes/duties are not exported out of the country. According to the latest statistics released by the Tea Board, India exported 93.6 million kg of tea during January-July 2004. The value of these exports stood at Rs 771.11 crore.
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