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TIOL-DDT 876 · Friday, 30 May 2008 · story 1 of 4

FM inaugurates Chief Commissioners conference

By Vijay Kumar

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Inaugurating the Conference of Chief Commissioners and DGs of Central Excise and Customs, the Finance Minister was confident that

  • We will meet customs and service tax targets. We are concerned about sluggish growth in central excise. The customs target is a 14.4 percent increase. It would be met.

  • the target increase in service tax was 26.1 percent for the fiscal year 2008/09 and it should be possible to meet that goal.

  • Excise growth is at 8.8 percent for this year and that at the moment seems a little formidable.

“But we are monitoring closely manufacturing as well as other channels and have asked commissioners to clamp down on misuse of Cenvat credit”, said the FM..