Dyeing industry buy time for payment of central excise duty
Even as the dyeing industry was trying to get time to pay the central excise duty on account of wrongly availed exemption on central excise, the industry seems to be continuously succeeding, in putting the demand on hold.punjab Updated: May 09, 2013 21:53 IST
Even as the dyeing industry was trying to get time to pay the central excise duty on account of wrongly availed exemption on central excise, the industry seems to be continuously succeeding, in putting the demand on hold.
In a meeting of representatives of the dyeing industry with the officials of the central excise department here on Thursday, the industry sought more time claiming that they have raised the matter with the finance minister.
Sources in the department revealed that even as the demand of central excise duty worth Rs 32 crore from the dyeing units still stands pending, as the industry did not get any relief from court; the industry has been asked to give a representation about their earlier meeting with finance minister. The industry has been asked to do so by May 13 i.e. Monday positively.
Owner of PVM enterprises, Vijay Maithani, who was part of the meeting, said that the industry had already raised the matter with the finance minister; a delegation will also meet him next week so that the demand could be put on hold.
“On being asked by the officials we will be giving a representation to department by next week,” Maithani said, adding that when the industry was taking up the issue at various levels, the central excise department should not go ahead in collecting tax.
It is worthy to mention here, that the central excise department has been pressing the dyeing and manmade processed knitted fabrics processing industry to pay the central excise duty on account of wrongly availed central excise duty from 2002-2012.
The department has started the exercise to recover the same after a letter was issued in this regard from the Central Board of Excise and Customs in January this year.