Syt B.k

Syt. Basant Kumarji Birla, 9/1 R.N. Mukerjee Road, Birla Building, Calcutta – 700 001

October 17, 2008

Sir, We introduce ourselves as a firm of Chartered Accountants providing consultancy in the area of Central Excise, Transfer Pricing, International Taxation, Company Law( India & UK), Internal Audit, Management Audit, Indian, Uk & International Accounting Standards, Statutory Audit, Indian & UK Corporate Taxation, FEMA etc. We have identified Central Excise as an area where with continuous tax planning substantial amount of tax saving can be done. We propose to conduct a review of various excisable units( i.e. each unit having separate central excise registration) of your esteemed group from the point of view of Central Excise Tax planning. Given an opportunity we assure you that we will be able to achieve substantial saving in payment of excise duty. A detailed scope & objective of work which needs to undertaken is enclosed herewith in form of an annexure. We hope we will be given an opportunity to prove our credentials. Thanking You, Yours Faithfully For Agarwal Shraff & Co. Chartered Accountants

Vinay Kumar Shraff ( Partner)

Annexure 1) To review the assessable value for payment of duty on our finished products to ascertain whether all permissible deductions from assessable value are being availed. 2) To review ‘assessable value’ in the light of newly introduced concept of ‘Transaction Value’ with effect from 1.7.2000. 3) To evaluate the management of payment of excise duty. 4) To ascertain whether all permissible Cenvat Credit as per Central Excise Law is being availed in respect of inputs & capital goods. 5) To evaluate the management of availment & utilization of Cenvat Credit. 6) To ascertain whether all permissible export benefits under central excise are being availed. 7) To evaluate the management of export benefits under Central Excise. 8) To evaluate the procedure being followed for availment of Cenvat Credit on capital goods being captively consumed. 9) To evaluate whether the job work procedure is being correctly observed. 10) To evaluate whether Cenvat credit on goods rejected or returned to the factory is being correctly availed & correct procedure is being followed in this respect. Apart from the above-mentioned points we will try sincerely to the best of our knowledge to examine the observance of all the procedures, regulations & availment of benefits under Central Excise Law.