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Paper traders' body seeks clarification on excise duty cut

Our Bureau

Kolkata , March 21

The Federation of Paper Traders' Association (FPTA) has urged the Finance Ministry to clarify whether the reduction of excise duty from 16 per cent to 12 per cent on paper and paper products as announced in the Union Budget for 2006-07, was for helping paper mills to mop up additional resource to take care of the financial need of their future investments or to help consumers get this commodity at cheaper prices.

Speaking at the 87th annual general meeting of the Calcutta Paper Traders' Association (CPTA) here, the President of FPTA, Mr Ranjit Kr. Bose, said that the benefit of excise duty reduction was yet to be passed on to consumers by paper mills following absence of specific reason mentioned in the Budget for such duty reduction.

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