surf india

Indian Budget 2006-07 on Excise Tax

Excise Tax

  • - Excise duty on all man-made fibre yarn and filament yarn is reduced to 8% from 16%.
  • - Excise Duty on aerated drinks and small cars is reduced to 16%.
  • - There are such products like software, software packages downloaded from internet, computer drives which are fully exempted from excise duty except 8% of excise duty on packaged software sold over the counter.
  • - Excise duty on fast food items to has been reduced to 8% from 16% while condensed milk, ice cream, preparations of meat, fish and poultry, pectins, pasta and yeast are fully exempted.
  • - Duty exempted on vegetable tanning such as quebracho and chestnut.
  • - Excise duty on footwear with retail price between Rs. 250 to Rs. 750 is reduced to 8% from 16%.
  • - Concessional rate of 8% to be extended for all LPG stoves.
  • - Excise duty on compact fluorescent lamps is reduced to 8% from 16%.
  • - Excise duty on cigarettes is increased by 5%.