01 March 2008
CENVAT REDUCTION FROM 16% TO 14% WAS ANNOUNCED BY THE FINANCE MINISTER ONLY ON 29 TH FEB. 08 IN THE BUDGET ANNOUNCEMENT. THE DETAILED DEPT. NOTIFICATIONS WILL BE ISSUED BY RESPECTIVE GOVT. DEPTS. LIKE CENTRAL EXCISE ETC... DURING THE COURSE OF NEXT FEW DAYS. NORMALLY THESE REDUCTIONS OR INCREASE IN DUTIES AND TAXES TAKE EFFECT FROM 1 ST APRIL 08 FOR THE BUDGET ANNOUNCED IN FEB. EVERY YEAR ( UNLESS THE NOTIFICATION STIPULATES OTHERWISE). R.V.RAO R.V.RAO
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