Excise Duty

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Excise Duty - Total results - 149
Chidambaram dubs imposition of taxes on fuel as 'cruel' in times of distress; says govt must borrow to meet deficits
Business

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

Oil marketing companies shares drop up to 13% post govt hikes excise duty on petrol, diesel
Business

Oil marketing companies shares drop up to 13% post govt hikes excise duty on petrol, diesel

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
Business

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
Business

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

Govt amends law to get powers to raise excise duty on petrol, diesel by Rs 8 per litre in future
Business

Govt amends law to get powers to raise excise duty on petrol, diesel by Rs 8 per litre in future

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

Govt tables notifications on excise duty, road cess rise on petrol, diesel by Rs 3 per per litre
Business

Govt tables notifications on excise duty, road cess rise on petrol, diesel by Rs 3 per per litre

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
Business

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

Budget 2020-21: Finance Ministry seeks suggestions for rationalising income tax, other duties
Business

Budget 2020-21: Finance Ministry seeks suggestions for rationalising income tax, other duties

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
Business

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.

RBI governor Shaktikanta Das says central bank to discuss issuance of sovereign bonds with govt
Business

RBI governor Shaktikanta Das says central bank to discuss issuance of sovereign bonds with govt

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
India

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
Business

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
Business

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.

Fiscal deficit target of 3.3% for 2018-19 could be a challenge, likely to be breached, say experts
Business

Fiscal deficit target of 3.3% for 2018-19 could be a challenge, likely to be breached, say experts

Government's fiscal deficit touched 114.8% of the full-year estimates at the end of November

GST, excise, service tax evasion of Rs 48,555 cr detected during April-December
Business

GST, excise, service tax evasion of Rs 48,555 cr detected during April-December

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
Business

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
Business

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.

Revenue secretary Ajay Bhushan Pandey says excise duty hike on petroleum products needs 'analysis'
Business

Revenue secretary Ajay Bhushan Pandey says excise duty hike on petroleum products needs 'analysis'

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
Business

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
Business

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.