A recent draft circular, put out for public responses/comments, of the department of revenue in relation to levy of service tax on distillers, under the heading of business auxiliary services, has caused widespread concern. read more »
The country has produced a record 26.95 lakh tonnes of sugar as on November 30 in the 2006-07 sugar year. This is an increase of about 22% over the last year's corresponding production of 21.95 lakh tonnes. read more »
The Centre has fixed the statutory Minimum Price (SMP) of sugarcane for the 2007-08 season at Rs. 81.18 per quintal linked to a basic recovery of 9%. The decision was taken at the meeting of the Cabinet Committee of Economic Affairs (CCEA). read more »
Indian sugar industry need not lament for missing the opportunity for exports due to the earlier ban imposed by the government at a time when the global prices were ruling high at $450 a tonne. The global prices, which has recently come down to around $320 a tonne are likely to appreciate further showering a boon on Indian exporters. read more »
The Cabinet Committee on Prices (CCP) in its next meeting, is slated to deliberate on the issue of totally lifting the ban on sugar exports. The government had imposed a ban on sugar exports on July 4 last year, in response to rising prices in the domestic market caused due to hoarding and manipulations in the futures market. read more »