Eicher to absorb excise hike on small tractorsFaced with a recession-hit market, Eicher Tractors will absorb the entire price hike on its smaller tractors by way of the 8 per cent excise levy and imposition of import duty on steel and engine components in the recently announced union budget. However, the 8 per cent across-the-board duty and 5 per cent cut in Modvat credit would translate to a slight increase in the prices of the company's larger models, managing director Ramesh C Jain said.Auto-makers seek cut in duty: Domestic automobile-manufacturers plan to make a representation to the government seeking immediate roll-back of the 5 per cent additional excise duty on multi-utility vehicles and other levies imposed on the sector in the 1998-99 union budget. According to the Association of Indian Automobile Manufacturers executive director Rajat Nandi, the increase in the excise duty from 25 per cent to 30 per cent on multi-utility vehicles (muv) was unjustified as these vehiclesprimarily serviced the needs of the rural areas and inter-city tour-taxi operators. Such a levy would only further depress demand.BHEL bags Rs 30-cr renovation orders: The Bhakra Beas Management Board has given contracts worth Rs 30 crore to Bharat Heavy Electricals for enhancing two imported hydro-power generating sets in Punjab. The orders envisage renovation and upgradation of one unit each of 24 mw to 28 mw at the Ganguwal and Kotla hydro-electric projects in Punjab, a BHEL release said. Bhel had bagged two similar orders earlier for renovation of imported hydro sets of 24 mw each at the two BBMB units. Under the fresh orders, BHEL would also provide new components like stator, rotor coils, runner, governor, static excitat on equipment, coolers and modified thrust bearings among other things.Customs officials catch up with `illicit' cellphone owners: Cellular-telephone owners in Nagpur, who might have thought they were taking the customs department for a ride by buying the instrumentwithout paying duty, were in for a surprise when they got a legal notice from the customs department recently. The commissioner of customs and central excise, Nagpur, KC Singh said those who did not buy the instrument from the authorised operator and did not pay the duty were asked to pay it immediately. Cellphone owners generally buy the instruments without receipts or getting them from abroad by avoiding duty, Singh stated.
