Thursday, June 13, 2013

NEWS | Excise duty exempted for local goods at airport stores

The Indian government, in a very progressive move, has exempted all indigenously manufactured goods from excise duty when being sold at duty free shops, so as to encourage sales and maintain margins for the sellers even in troubled times.

The Indian government seems to be getting a hang of all the international trends in order to make inroads into the hearts and wallets of the people across the world. In a recent move targeted at the redemption of the popularity levels of the local manufacturers amongst foreign tourists, the government has decided to exempt all locally manufactured goods sold at the duty free shops, present in the airports across the country, from excise duty.
The reduction in the excise duty would bring down the prices of the products significantly, with the actual figure being around 10 per cent. The change comes as a pleasant one, especially in the current times, since along with the different aspects of the global economy, the aviation sector in India has been having a torrid time

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