Starting Line Govt readies detailed framework to review excise duty exemptions being enjoyed by pharma, FMCG and auto cos in states India Inc may not face a bumpy ride under the proposed goods and services tax (GST) regime that would witness elimination of tax holidays as the government is readying a detailed framework to ensure a smooth transition. The Central Board of Excise & Customs (CBEC) has set up a panel to formulate the framework that could have wide ramifications for pharmaceuticals, FMCG and automobiles sectors that have thrived in the states enjoying area-based excise duty exemptions. “All these issues need to be worked out for smooth implementation,“ said an official. A detailed set of guidelines would be put in place ensure that entities enjoying tax holidays during the grandfathering period do not suffer. The finance ministry is also beginning stakeholder consultations with individual sectors -starting with ecommerce on Wednesday -to understand co