Tech Jungle

Sugar industry seeks excise duty deferral to stay afloat
June 4, 2007, 3:06 pm
Filed under: FINANCE

The beleaguered sugar industry, struggling to come to terms with low realisation and surplus production, has sought deferral of excise duty for a period of two years in a bid to extricate itself from the financial mess it finds itself in. A memorandum seeking such a relief has been submitted by the Indian Sugar Mills Association (ISMA) to the food ministry a few days back. Confirming the development, ISMA secretary-general SL Jain said that the industry is facing an unprecedented situation with sugar prices declining steeply.


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