While presenting the Budget 2008 today, P. Chidambaram, the Finance Minister announced said the excise duty cut on paper and paper board materials will be reduced from 12% to 8% which is positive for the media sector.
While presenting the Budget 2008 today, P. Chidambaram, the Finance Minister announced said the excise duty cut on paper and paper board materials will be reduced from 12% to 8% which is positive for the media sector.
He said that non filter and filter Cigarettes will be taxed equally. Also the excise duties on tea and coffee mixes has been reduced from 16% to Nil and duties on breakfast cereals has been reduced from 16% to 8% so overall we can say that FMCG industry will have a mixed impact from budget 2008.