Wednesday, September 9, 1998
Proposal to form SAARC tea council awaits ministry nod
The draft proposal for the formation of a SAARC tea council has been sent for the approval of the union commerce ministry, according to Consultative Committee of Plantation Associations chairman VK Goenka. He added that the council will maintain minimum standard norms for tea and exchange views on the various aspects of the commodity.
Ministry to set up panel to spell out accounting norms for ports
The Union ministry of surface transport has decided to appoint a committee to formulate guidelines to help the 12 major ports in India to move to commercial accounting practices. The committee which will comprise renowned chartered accountants and experts in the port sector to prepare guidelines to be followed by port authorities, will enable ports to streamline accounts, take decisions on commercial principles, and come a step closer to a regular corporate structure.
CII urges centre to levy 5% special excise duty
The Confederation of Indian Industry (CII) has urged the union government to impose a 5% special excise duty (modvattable) as surcharge on duty payable while restoring the Modvat credit on inputs to 100%. In a related development, the CII has reiterated its demand of imposing 4% special import duty on fertiliser, coal mining, power generation and crude petroleum refinery projects.
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