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Coal, cigarettes, cement among top excise payees

Coal, cigarettes and cement…firms involved in dealing in these commodities either in manufacture or excavation were the top assesses of the Central Excise collections in the Hyderabad zone comprising Telangana this financial year.

Singareni Colleries, Hyderabad Deccan Cigarette Factory, VST Industries, Orient Cement and India Cements were top payees of the tax besides ACE Tyres. They were felicitated with a memento and a certificate by Sulekha Beevi, judicial member, Customs, Excise & Service Tax Apellate Tribunal, during the 73{+r}{+d}Central Excise Day celebrations here on Wednesday.

Among the top service tax assesses were BSNL, Dr. Reddy’s, GATI, NCC, GMR Hyderabad International Airport and Andhra Bank while the top STPI assesses were Hetero Labs, Aurobindo Pharma and Infosys. Representatives of these firms received a memento and a certificate from Ms. Beevi, chief guest.

While appreciating the zone performance in difficult economic conditions of delivering 30 per cent more collection in comparison to the previous year, she pointed out that the rising non-performing assets (NPAs) of the banks would have a direct bearing on the tax collection. Earlier, Chief Commissioner R. Shakuntala Devi said more than Rs.300 crore was added to the tax collection.

Source: Hindu