Corporate Results of over 2500 companies Monday, October 4, 1999
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Steel merchants want 8% excise duty slashed 

Vijay Trivedi  
Mumbai, Oct 3: The stainless steel merchants have reiterated their demand to reduce the eight per cent excise levied last year.

At the 42nd annual general meeting held last week in Mumbai the association chairman Bhaishankarlal Raval expressed the anxiety over the continuation of excise duty on the stainless steel cutlery.

The association members were worried about the imbalance in sales tax charged currently at 4 per cent on cutlery items against two per cent. The association has strongly protested the extra burden of tax and demanded for its removal as also for lowering of the sales tax to two per cent.

Meanwhile, Khiyshibhai Dedhia of Ambica Metal Industries was awarded "Vyapar Ratna" award for his distinguished services to the industry for support given to the new enterprenuers. Raval and Rajeramji Agrawal were re-appointed as chairman and president.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.

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