date:Aug 29, 2012
Now, biscuits whose MRP exceeds Rs 100/kg are subject to eight per cent CENVAT, and that is what we have urged the government to abolish. To the inexpensive ones, CENVAT does not apply, he explained.
Even then, Everybody is affected by the price hike (which dates back four years), but bigger biscuit makers have the financial muscle to cope with it, he said.
As for the rising input costs, Mohandas observed, The price of wheat flour, which had risen by 15 per cent in August 2011, had skyrocketed