Corporate Updates 12 March 2014

Competition Act: 

CCI has recently decided that Intel had not restricted and limited market by foreclosing distribution network to its competitors or denied access to market of microprocessor to its competitors or imposed supplementary conditions or leveraged its dominant position in market of high demand products in market for low demand products, there was no abuse of dominance by Intel.

CBEC: 

The Central Board of Excise and Customs (CBEC) has denied the report that the Customs, Excise Duty and Service Tax refunds/drawbacks are being held-up by the Department. This was mentioned in a certain section of media attributing to a statement by President, Federation of India Export Organisations (FIEO) to the effect that Customs, Excise Duty and Service Tax refunds /drawbacks are being held-up by the Department. This is not correct as CBEC have refunded more amounts in 2013-14 as compared to the corresponding period in the previous year.

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