Wednesday, August 19, 1998
Centre plans to re-mould excise structure, announce three-tier rates
Union finance minister Yashwant Sinha said on Tuesday that the government planned to introduce three-tier excise rates as part of its efforts to perk up the economy and achieve a higher growth trajectory. The existing eight to nine excise rates would `coalesce' into three rates which would be a `enormous step forward' in simplifying excise duties.
Exporters may get annual refund on duties
The centre is considering a new export promotion scheme in which exporters will get a year-end refund of all duties and taxes paid by them to the state and central exchequer during a financial year, according to a senior commerce ministry official. The scheme was being formulated to meet exporters' demand for reimbursement of the state sales tax they have to pay on the sale of exim scrips.
FIs chalk out agenda for nominee directors to ensure voice for shareholders
Financial institutions have sewed up a 19-point agenda that will enable nominee directors to play the role of "active interventionists" and protect shareholders' interests. Institutions have circulated the agenda to nominee directors to ensure corporate governance.
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