Budget aimed at simplifying excise, custom rates

CHANDIGARH, MARCH 14: The Union Budget is aimed at rationalisation and simplification of the excise and custom rate structure.

Stating this while delivering a talk at the Indian Institute of Management here on the Finance Bill, with special reference to excise and customs, Additional Central Excise Commissioner P.S. Pruthi said that whenever the excise rates had been increased relief too had been granted. Pruthi said that further simplification in the structure had been brought about by increasing the number of commodities covered under the MRP-based excise levy. Referring to the removal of the Modvat restrictions, more concessions to the small scale industries and liberalisation of removal procedure of workers, Pruthi said that the Budget was industry-led.