Chidambaram dubs imposition of taxes on fuel as 'cruel' in times of distress; says govt must borrow to meet deficits
Governments must borrow to meet their deficits and not impose higher tax burdens when economic activity has ground to a halt amid the coronavirus pandemic, senior Congress leader P Chidambaram said on Wednesday after the Centre and the Delhi government hiked taxes on petroleum products
Shares of oil marketing companies -- Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd -- on Wednesday plunged up to 13 percent, a day after a hike in excise duty on petrol and diesel
Govt to gain Rs 1.6 lakh cr additional revenues this fiscal from record excise duty hike on petrol, diesel
The cash-strapped government will gain close to Rs 1.6 lakh crore in additional revenues this fiscal from a record increase in excise duty on petrol and diesel, that will help make up for revenue it lost in a slowing economy and shutting down of businesses due to coronavirus lockdown
Maharashtra sells over 16 lakh litres of alcohol, nets Rs 62 cr revenue on Day 2, with just one-third shops open
The state has over 10,000 licensed shops that sell country liquor, IMFL, wine and beer of which merely 3,500 operated on Monday and Tuesday
The government on Monday amended the law to get enabling powers to raise excise duty on petrol and diesel by Rs 8 per litre each in future
Minister of State for Finance Anurag Singh Thakur on Monday tabled three notifications relating to increase in excise duty and road cess on petrol and diesel by Rs 3 per per litre, amidst uproar by opposition in Lok Sabha
Budget 2020: Cigarettes, imported products, furniture, footwear to become costlier; EVs, newsprint, sport goods to be cheaper
A large number of items including cigarettes, chewing tobacco along with imported products, like edible oils, fans, table, footwear, electric vehicles, tableware, kitchenware, toys and furniture are set to become more expensive due to hike in taxes proposed in the Union Budget for 2020-21
In perhaps the first instance, the finance ministry has kicked off the exercise to formulate the next budget by seeking suggestions on changes in direct and indirect taxes from industry and trade associations
Budget 2019 offers no big tax relief to middle-class taxpayer though Narendra Modi sets $5-tn economy vision
As far as the employment generation initiatives are concerned, tax concessions to businesses surrounding, setting up of more workplaces and factories have always been a favoured option to create employment opportunities.
Shaktikanta Das said the Budget provision of Rs 70,000 crore towards bank capitalisation is a very positive development
Liquor prices soar in Rajasthan as state hikes excise duty, provision not applicable to defence personnel
Liquor will cost more in Rajasthan as the state government hiked the excise duty on the Indian-made foreign liquor (IMFL) and liquor by 20 percent and 35 percent, respectively.
Godrej Agrovet Q4 net profit up 8% at Rs 34.7 crore; withdraws scheme for amalgamation with Astec Lifesciences
The Godrej Agrovet board has recommended a final dividend of Rs 4.5 per share on the face value of Rs 10 each
Direct tax collection exceeds target in FY19, pegged at Rs 13.80 lakh cr in FY20; mop-up from customs crosses target
As per the 2019-20 Budget estimates, out of the Rs 13.80 lakh crore direct taxes, the government aims to raise Rs 7.60 lakh crore from corporate tax and Rs 6.20 lakh crore from PIT.
Government's fiscal deficit touched 114.8% of the full-year estimates at the end of November
GST, central excise and service tax evasion detected during the April-December period of the current financial year stood at Rs 48,555 crore, the highest in two years.
Oil firms not to recoup losses arising from Re 1/litre subsidy on petrol, diesel; suffer losses of about Rs 4,500 cr
Petrol prices, which have been on a decline since 18 October except for one day, are at their lowest level in almost 13 months.
GST: Focus shifts to enforcement, returns, refund simplification; more exemption for MSMEs likely in next meet
A simplified GST returns forms will be launched on a trial basis in April 2019 and will be made mandatory from July on wards.
In face of mounting public pressure, the Centre had in October cut excise duty by Rs 1.50 per litre on both petrol and diesel
Petrol price slips below Rs 74-mark in Delhi for first time since April; six-week long rate cut wipes off all fuel hikes
Petrol price in Delhi was cut by 50 paisa to Rs 73.57 per litre, according to a price notification issued by state-owned fuel retailers. This is the lowest petrol price since April.
Fuel prices drop for second day in a row across 4 metros; petrol down by 24 paise, diesel 11 paise per litre in Mumbai
After Thursday's fall of 21 paise in petrol prices, it was further slashed by another 24 paise in Mumbai to Rs 87.84 per litre. Diesel prices dropped by 11 paise to Rs 79.13 per litre on Friday.