An Overview of the Union Budget Speech – Expectations and Highlights

In February, people would stay glued to their Television sets for listening to Budget Speech of the Finance Minister, presented in the Lok Sabha Session. Budget 2011 is expected to bring in great relief for the international trading Communities. Foreign traders of the country and even those based in foreign countries who are trading with us, are waiting impatiently for the amendments in the Excise Tariff and Customs Tariff-2011. Continue reading

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Know About the Product Categories of New Amendment in Custom Duty-2011

In the latest Budget Speech by the Finance Minister of India Mr. Pranab Mukherjee, several financial changes would be introduced. This announcement would reveal the financial planning of the Minister and the fact whether or not his policies would be effective in keeping a check over rising inflation, bringing back money stashed overseas and keep fiscal deficit in check. Another point to consider while planning for the Indian Budget is to ensure that the economic growth of the country is on track while withdrawing the stimulus measures.

New Amendment in Custom duty-2011 is important information that every trader is keen to know. These amendments bring in several changes with the New Excise Tariff-2011 and New Custom Duties 2011 that directly affect the business of the importers and exporters. Following are some of the points that would be discussed in the New Excise Tariff-2011:

Rate structure for goods (except petroleum)
CENVAT or Central Value-added Tax is announced during the New Indian Budget session. This announcement takes care of the standard rate of CENVAT for non-petroleum goods. Whether the taxes for the coming year will be increased or reduced is determined with this announcement. The excise duties on almost all the products like cement, fertilizers, Multi Utility Vehicles, and so on, except petroleum are determined.

Petroleum Products
The rates of excise duties on petroleum products are announced in this section. This would decide exactly where the price of branded and unbranded petroleum products like Motor Spirit (petrol) and HSD (diesel) would stand after the announcement.

Tobacco Products
The tax amendments on all forms of Tobacco such as branded non-manufactured tobacco and tobacco refuse, branded, hookah or gudaku tobacco, chewing tobacco, preparations containing chewing tobacco, jarda scented tobacco, snuff and its preparations, tobacco extracts and essences etc; smoking tobacco, cut tobacco, smoking mixtures etc. would be announced.

Clean Energy Cess
Clean Energy Cess is the duty imposed on and collected as a duty of excise from coal mines products like coal, lignite and peat produced in India.

Withdrawal of exemptions/ concessions
This section deals with the announcements of withdrawals of the existing exemptions or concessions.

Relief Measures
This is the most awaited section and every trader wishes to see his products in this category. In this section, those products that are fully exempted from excise duty are listed.

These are some of the section of the New Amendment in Custom duty-2011. The New Excise Tariff-2011 on all these products and more are disclosed during the Finance Minister’s Budget Speech in February. These changes don’t just affect the big business tycoons, but they also affect the lives of common people. To know more about the new budget announcements of 2011 – 2012 log on to the website of Infodrive India. The company provides Live Budget updates every year.

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Best Buy in China – Lessons Learned

Recently Best Buy, the US electronics retailer, announced plans to close all its own brand stores in China. It will continue to operate the local chain that it has already purchased; “5 star”. So what went wrong and what lessons can other business learn from another major Western retailer’s rapid retreat from the Middle Kingdom? Continue reading

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2011 Is Here – What Does the Future Hold?

Now that 2010 has ended and 2011 arrives we need to consider what will be the major advances and changes in the coming year. Continue reading

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The ‘No Complaint’ Champions

Ever heard of any company that has a consistent record of no complaints for its products, over and over again? Such companies are the best examples of over-delivering consumer expectations. And that’s why they are called the no complaint champions. These companies might not be very good in every aspect of each business process but they care for their customers and are the excellent at doing what they consider to be their core competencies. They also command category and segment leadership positions, brand/ product and corporate loyalty, financial leadership and most importantly, the admiration of their competitors. They also set the benchmark for the particular product they make and provide food for thought on the future innovations by challenging the basic principles and rules. Continue reading

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It’s a Brave New World – Going Digital

As the digital world expands and grows, it is taking all of us for a ride. Continue reading

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Giant Power Shovels of the Mid 1900s

The dimensions of a power shovel far exceed those of any front shovel. The machine with a large shovel would always need a base heavy enough for balance. Continue reading

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The Perils of Freight Shippers Fatigue

Freight shippers, more specifically truck drivers, have a dangerous job. They spend days on the road and often with very little sleep. Every year thousands of people are killed, and even more injured, because of truck crashes. According to the Federal Motor Carrier Safety Administration, about 750 die each year because the truck driver was fatigued, and about 20,000 more are injured. This is why it’s so important for freight shippers to be educated on this matter and take the proper precautions to prevent these accidents from happening. Continue reading

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The History Of Fabrication And Its Types

Fabrication is done when something is affected or controlled so that it can turns into something else. Unfortunately, the wider use of the word has nothing to do with how the facts are so often “fabricated” in addition to the usual. On the other hand, the most useful type of fabrication is metal fabrication. Continue reading

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The Dynamics of Motivation and What Makes Employees Put in Their Best

All organizations big or small require people to be a success. It is not the infrastructure or leadership alone enough to achieve great results. Keeping people happy is the best way to retain employees and ensure good productivity. We take a look at some of the factors that will help motivate the employees of your organization. Incorporating these factors into the working environment of your organization will ensure superior performance and low attrition rate. A good business head needs to be aware of motivational dynamics and how to efficiently implement it for great results. Continue reading

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