The Hindu Business Line : <I>Bone of contention</I>

Notification No. 88/2006-Customs (N.T.) was the bone of contention between edible oil traders on Tuesday. While one trader had a "notification" obtained from the CBEC Web site that showed the tariff value being raised, another had the value that was rolled back.

This led to nervousness and confusion among traders. Though markets were closed for Independence Day, the trade was concerned over the exact price for Wednesday's trading.

"Wednesday, too, is a Government holiday on account of Janmashtami and that led to increased concern," a trader said.

"We are surprised that the Government has issued a corrected notification with the same number. Agreed, that a notification doesn't become a law unless it is gazetted and the Centre has changed it before it was due to be gazetted," said an edible oil industry official. "But both the revised and rolled back announcements were put up on the Web site as notification with the same number leading to confusion," he said. The announcement on revision in the tariff value was also issued as a press release to newspapers and agencies on Monday.

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