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Why Titan has Give Breakout After Gold Import Tax Levy in Budget 2012?

Post levying of higher taxes on gold import in budget 2012, companies which were dealing in gold import had suffered a setback. However now Titan has given a break out as government has allowed the company to import gold directly. The allowance by Govt to Titan has given a fillip to the stock as it is going to help Tata Group firm to save 1% of its operating cost and they will have access to best of the best gold at discounted rates.

It is not a favoritism case as company had approached Directorate General of Foreign Trade (DGFT), under the Commerce Ministry and had sought license for direct gold import for its watches and jewellery.

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