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Change in excise duty methodology
Earlier duty was 10% on printed retail price
Revised to 10% ad-valorem plus Rs8/bag
Marginal negative impact on the companies if 10% is
calculated on cost of production (including freight)
Reduction in surcharge – marginally positive
Surcharge on income taxes reduced from 7.5% to 5%
Marginally positive for companies
MAT rate increased from 18% to 18.5%
Effective MAT rate remains at ~20%
No impact on earnings of cement companies
Fly ash to attract duty at 1%
Currently no tax; no credit available as well
Marginal negative impact on all companies
Reduction in import duty on petcoke, gypsum
Reduction in import duty from 5% to 2.5%
Marginally positive for all the companies
Our top picks – Grasim, Shree Cement
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Change in excise duty methodology
Earlier duty was 10% on printed retail price
Revised to 10% ad-valorem plus Rs8/bag
Marginal negative impact on the companies if 10% is
calculated on cost of production (including freight)
Reduction in surcharge – marginally positive
Surcharge on income taxes reduced from 7.5% to 5%
Marginally positive for companies
MAT rate increased from 18% to 18.5%
Effective MAT rate remains at ~20%
No impact on earnings of cement companies
Fly ash to attract duty at 1%
Currently no tax; no credit available as well
Marginal negative impact on all companies
Reduction in import duty on petcoke, gypsum
Reduction in import duty from 5% to 2.5%
Marginally positive for all the companies
Our top picks – Grasim, Shree Cement
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