ARORA FIBRES LTD. - Reversal of Excise Duty Provision

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16 Aug 2014
Arora Fibres Ltd has informed BSE that the Company had made a provision of Rs. 30,246,000/- for payment of Excise Duty during the year 2011-2012. This was necessitated by retrospective amendment in the union budget 2012. The Finance Act 2014 as passed by the Parliament has done away with this retrospective amendment providing relief for the Company. As result the provision for Excise Duty of Rs. 30,246,000/- is no longer necessary. This reversal of provision will positively impact the Profit and Loss account of the company for the year ending on March 31, 2015 to that extent.
View all announcements for ARORA FIBRES LTD.	Source: BSE India

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