Guidelines for Samman scheme released

A press note from the central excise department said the personal ledger account will be used as reference for computing the tax collected. Also, the financial year will be divided into two parts 8212; one from April 1, 1998 to November 30, 1998, and the other from December 1, 1998 to March 31, 1999 8212; to compare to corresponding figures of the previous year. Notwithstanding the quantum of revenue realised, the weighted average for the period April-November 1998 will only be 40 per cent and the increase in revenue for thisfinancial year shall be computed with reference to 40 per cent of the weighted average.

For the period Dec 98-March 99, the weighted average will be 60 . New levies will be excluded and refunds and drawbacks will be included in the computation.