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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (949)	2/29/2000 12:36:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

Computers,Cell Phones and InfoTech products cheaper-Cigarettes,costmetics dearer. Cigarettes, cosmetics dearer; computer, cell phones cheaper New Delhi, February 29: Cigarettes, cosmetics and multi-utility vehicles would become dearer as per the new duty structure proposed by Finance Minister Yashwant Sinha in the Union Budget 2000-01 today. However, computer hardware, cellular phones, medical equipment,etc... will become cheaper. Basic customs duty has been slashed on a host of information technology and telecom products, including computers, mother boards, CD ROMs, semiconductor inputs, cellular phones and inputs on optical fibre to give the much needed fillip to knowledge-based and communication industries. Coming down heavily on the tobacco industry, the finance minister slapped an across the board five per cent additional excise on all kinds of cigarettes. Sinha reduced the excise duty on original equipment supplies of tyres for buses, trucks and cars, parts of air-conditioners and refrigerators as he brought these items under Central Value Added Tax (CENVAT) at 16 per cent from existing 30 per cent duty rate. However, items including cosmetics, ACs and appliances and replacement tyres for buses, trucks and cars would become costlier at an effective excise duty of 32 per cent compared to 30 per cent earlier. Soft drink concentrate will now be charged CENVAT of only 16 per cent compared to 40 per cent earlier.