Branded goods get a boost in budget
Close on the heels of opening branded retail to FDI, the budget proposal has given yet another fillip to branded goods.india Updated: Mar 06, 2006 14:23 IST
Close on the heels of opening branded retail to foreign direct investment, government's budget proposal has given yet another fillip to branded goods, as the Finance Minister today withdrew excise concessions for a number of unbranded goods including mineral water, milk beverages and edible oils.
At the same time, excise exemptions were withdrawn from a number of goods manufactured without the use of power, according the the Budget papers laid in Parliament today.
Starting with churan for paan, excise duty exemption has been withdrawn from mineral water, lemonade, sugar syrups, sugar syrups, Finance Minister P Chidambaram has targeted everyone even as he brought down rates for aerated drinks, gold concentrate and small cars
Unbranded custard powder, food flavourings, wadding and gauges, preparations of fruits and vegetables, will now attract excise duty.
Essential oils, sugar, perfumes, bricks, soaps precious metals not using power in their manufacture will now have to pay excise duty.
Exemption has also been withdrawn from wooden flooring, marble slabs and tiles, containers made of iron, steel and aluminium.