michael kors outlet A mixed bag for the FMCG secto

By | August 19, 2015

A mixed bag for the FMCG sector

Remuneration of Anganwadi workers increased from Rs 1500 per month to Rs 3000 per month and for Anganwadi helpers from Rs 750 per month to Rs 1500 per month.Exemption limit for the general category of individual taxpayers enhanced from Rs 1,60,000 to Rs 1,80,000 giving uniform tax relief of Rs 2000. For Senior citizen of age of 60 years but less than 80 years, the tax exemption above Rs 250000 and senior citizen above 80 years age exemption is above Rs 500000.Current surcharge of 7.5% on domestic companies proposed to be reduced to 5%Rate of Minimum Alternative Tax (MAT) increased from 18% to 18.5% of book profits.Lower rate of 15% tax on dividends received by an Indian company from its foreign subsidiary.To stay on course for transition to GST.Direct Taxes Code (DTC) to be finalized for enactment during 2011 12. DTC proposed to be effective from April 1, 2012.Central Excise Duty to be maintained at standard rate of 10%. Base rate on excise duty raised to 5% from 4%Standard rate of Service Tax retained at 10%.To improve rice based cropping system Eastern Region, allocation of Rs 400 crore has been made.Allocation of Rs 300 crore to bring 60,000 hectares under oil palm plantations. Initiative to yield about 3 lakh Metric tonnes of palm oil annually in five years.Will set up 15 more Mega Food Parks during 2011 12.Removal of supply bottlenecks in the food sector will be in focus in 2011 12Cold storage chains to be given infrastructure status.The exemption from basic excise duty on paws, mudis and the like is being withdrawn and a Tariff rate of 5% is being prescribed for the tariff items falling under tariff heading 1901 10 10, 1901 10 90, 1902 (other than 1902 40 10 and 1902 40 90) and 1903 00 00.However a concessional rate of 1% without CENVAT credit facility is being imposed on items of tariff heading 1901 10 which are put up in unit containers and pasta, sphagetti, macaroni, noodles etc., tapioca and substitutes.The exemption from basic excise duty on coffee or tea pre mixes, sauces, ketchup and the like, soups and broths and preparations, all kinds of food mixes, including instant food mixes, betel nut product known as ready to eat packaged food, milk containing edible nuts with sugar or other ingredients is being withdrawn.However t michael kors outlet hese goods would be subject to the concessional rate of 1% without CENVAT credit facility. michael kors outlet A concessional rate of 1% without CENVAT credit facility is being imposed on fruit pulp or fruit juice b michael kors outlet ased drinks, flavored milk of animal origin, tender coconut water.Basic customs duty is being reduced from 30% to 10% on Bamboo for use in the manufacture of agarbatti.Basic customs duty on Crude Palm Stearin imported for michael kors outlet the manufacture of laundry soap, is being reduced from 20% to nil on actual user basis