Business Services Industry
INDIAN AUDITOR-GENERAL RAPS RUBBER BOARD OVER EXPENDITURE.
AsiaPulse News, March, 2002
NEW DELHI, March 25 Asia Pulse - Comptroller and Auditor General (CAG) of India has pulled up the Rubber Board for its failure to avail customs and excise duty exemption leading to an avoidable expenditure.
"Rubber Board failed to obtain exemption from payment of customs duty/central excise duty due on imports for the World Bank aided projects and thus incurred expenditure of Rs 11.3 million," CAG said.
The Board which executes India Rubber Project with the assistance of World Bank, imported machinery worth Rs 22.1 million for two factories during 1999-2000 and paid customs duty and additional customs duty of Rs 11 million thereon, CAG said, adding that the Board failed to inform on the reasons why the exemption from payment of customs duty was not taken....
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