RATE OF IRON & STEEL DUE TO CHANGE OF EXCISE DUTY

CA MITHLESH KUMAR (CHARTERED ACCOUNTANT) (62 Points)

01 March 2008  

OUR GOVT WANT TO CONTROL THE INCREASING PRICE OF IRON & STEEL.SO EXCISE DUTY HAS BEEN REDUCED TO 14%.
BEFORE BUDGET THE RATE OF SPONGE IRON WAS IN THE RANGE OF 18200-18500/MT BUT TODAY'S RATE IS 18500-18800.
I AM AFRAID IN SAYING THAT BY ONLY REDUCING EXCISE DUTY GOVT WILL NOT BE ABLE TO REDUCE THE PRICE.


IF GOVT REALLY WANT TO CONTROL PRICE IT SHOULD TAKE STEPS TO CONTROL THE INCREASING PRICE OF IRON ORE AND COAL.