Welcome to Indian Biscuit Manufacturers’ Association!

  • D-1, Sector-2 NOIDA - 201301
  • Phone: 0120-2522939
  • info@ibmabiscuits.org

IBMA Thanks F. M For Hike In Exmption Limit To Rs. 100/ Per KG

IBMA Thanks F. M For Hike In Exmption Limit To Rs. 100/ Per KG

New Delhi Friday, 4″1 May f)QT,fye Indian BiscuitManufacturers Association (IBMA) has wholeheartedly welcomed the announcement by Shri P Chidambaram. Finance Minister yesterday, extending exemption limit from Central Excise Duty on biscuits with MRP upto Rs. 100/kg, from Rs.50/kg, a^-per the Budget for 2007-08, presented before Parliament on 28 February 2007.
While briefing media today, Shri B P Agarwal, President of Indian Biscuit Manufacturers’ Association (IBMA) stated today that the present announcement is in recognition of the Post Budget memorandum submitted by IBMA inter alia pointing out the anomaly in the original budget proposal limiting excise exemption to only biscuits with MRP upto Rs.50/kg will benefit only very few large biscuit manufacturers as almost ninety percent of the biscuits with MRP upto Rs 50 is manufactured by such few large biscuit manufacturers.
Shri B P Agarwal, President, IBMA was confident that with the increase in exemption limit for biscuits with MRP upto Rs. 100/kg, more than 150 SMEs in the biscuit industry will now he able to have a level playing field.
The IBMA President thanked the Finance Minister for acceding to the Association’s plea that since the revenue outgo is very little as compared to the employment opportunities that are being created in the industry on an yearly basis, there is an economic rationale for extending the C’envat exemption to the biscuits exceeding Rs 50 per kg
Since most of the 150 SMEs are producing mixed varieties of biscuits, the increase in excise exemption for biscuits with MRP upto Rs. 100/kg would also remove their hardships for maintaining excise duty related documents, including differentiation in stock of raw materials/packing materials / transportation cost etc. separately for Excisable and non-excisable biscuits ultimately resulting in higher cost burden , as almost all categories of Biscuits would be covered under the newly announced excise exemption. For more information, please contact Mr K P Mohandas. Secretary General, IBM A(Mobile:9818857709)

We are desirous of enrolment as an Ordinary Member of the Association.