BUDGET SYNOPSIS [2001-2002]                                                                IMPACT ON PAPER INDUSTRY

EXCISE DUTY

The excise duty on all grades of paper will be 16% except newsprint    

There is no excise duty on newsprint  

Excise duty exempted up to 3500 MT which shall apply only to the paper and paper board or 
articles made there from cleared for home consumption from a factory, in any financial year,
up to first clearance of an aggregate quantity not exceeding 3500 MT for the paper and paper
board or articles made there from manufactured starting from the stage of pulp, in a factory,
and such pulp contains not less than 75% by weight of pulp made from materials other than
bamboo, hard woods, soft woods, reeds (other than Sarkanda) or rags.  

Basic excise duty of 16% imposed on corrugated boxes.  

Excise duty on High Speed Diesel (HSD) increased from 12% to 16%  

Special excise duty (SED) imposed on motor spirit  

CUSTOM DUTY 

The basic custom duty on all grades of paper continue to be 35% except few grades of   paper.  

The basic custom duty on newsprint, light weight coated paper will be 5%.  

The basic customs duty on waste paper is 5% with a condition that the importer furnishes an undertaking to the Deputy Commissioner of Customs or the Assistant Commissioner of Customs, as the case may be that such imported goods will be used for the purpose specified and in the event of his failure to comply with this condition, he shall be liable to pay, is respect of such quantity of the said goods as not proved to have been so used, an amount equal to the difference between the duty leviable on such quantity but for the exemption under this notification and that already paid at the time of importation.

MISCELLANEOUS

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