Tamil Nadu - Coimbatore   

`Central Excise will achieve target'

Staff Reporter

Optional duty payment scheme has brought down collection: Chief Commissioner

Coimbatore: As against the total Central Excise revenue target of Rs. 1,700 crores for the year 2005-06, the Coimbatore zone (till January 2006) has collected Rs. 1,390 crores, said J.M.K. Sekhar, the Chief Commissioner of Customs and Central Excise, here on Friday.

At the Central Excise Day 2006 function, he said he was confident of collecting Rs. 310 crores before the fiscal drew to a close. As against the collection of Rs. 2,047 crores the same period last year, it had come down to Rs. 1,390 crores due to the introduction of optional duty payment scheme for the textile sector and the withdrawal of warehousing facility for petroleum products.

To help the textile industry attain quality standards at par with international players and enable them to withstand the competition in the global market in the post-quota regime, almost all products were fully exempted - with simultaneous option for payment of duty at lower rates.

The service tax revenue for Coimbatore zone for 2005-06 up to January was Rs. 343 crores as against the Rs. 242 crores collected the same period last year. Under Customs, Rs. 180 crores was disbursed as drawback during the current year till January.

Y.S. Sharawat, the Commissioner of Central Excise, said that out of the Rs. 17,500 crores, a whopping Rs. 5,000 crores came from the telecom industry, especially BSNL, as service tax.

The Principal General Manager of BSNL, Coimbatore, A.S. Egaya, said that Customs and Central Excise and BSNL spun revenue for the Government. BSNL had the onus of nation building by bringing in telecom infrastructure, he said.

V. Lakshmi Narayanasamy, the MD of Suguna Machine Works, offered felicitations and Mrs. Suguna Lakshmi Narayanasamy, the CEO of Suguna Industries gave away prizes to children of staff. The Joint Commissioner of Central Excise, Dipak Kumar Gupta, spoke.

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