ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Tax Planning to the Rescue

Tax Planning to the Rescue Hansavivek ASSOCIATED BEARING COMPANY has experienced a modest setback in its working during 1983, as bearing industry was under pressure due to dumping of extremely low priced bearings, mainly from East European countries. According to management, demand recession, coupled with labour problems and stagnant selling prices, resulted in many indigenous manufacturing units reporting losses in their operations. Company recorded a modest increase of 5.5 per cent in total production. Bearing production increased from 9.3 million in previous year to 10.1 million. Likewise, production of textile machinery components showed some improvement. Total turnover was up from Rs 36.45 crore to Rs 40.60 crore. While bear ing sales were 4.5 per cent higher, sales of textile components increased by 67 per cent over 1982, mainly due to resumption of manufacturing operations and offtake of company's products by its biggest customer.

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