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Excise Duty

Excise duty hike in Karnataka would lead to dowtrading, may impact sales, say liquor makers

Excise duty hike in Karnataka would lead to dowtrading, may impact sales, say liquor makers

Fri, Jul 07, 2023

Liquor manufacturers on Friday raised concerns about the Karnataka government hiking tax on Indian made foreign liquor (IMFL), saying the move will increase consumer prices and adversely hit sales.

Delhi governement collects Rs 1,700 crore in excise duty, VAT in April-June quarter

Delhi governement collects Rs 1,700 crore in excise duty, VAT in April-June quarter

Sun, Jul 02, 2023

The amount included Rs 5,548.48 crore as excise duty and Rs 1,272.52 crore as value-added tax.

Anil Singhvi explains how lower crude oil taxes can help RBI pause rates

Anil Singhvi explains how lower crude oil taxes can help RBI pause rates

Thu, Mar 16, 2023

Global crude oil prices hit a 15-month low on Wednesday and are below $75

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Govt may rework indirect tax maths mid-way after GST entry

Govt may rework indirect tax maths mid-way after GST entry

Sun, Feb 12, 2017

GST collections so made are then to be split equally between the Centre and states. But since there are no reliable estimates of combined VAT collections of states, Jaitley could not project the Centre's revenue from GST in 2017-18.

Here's list of products proposed in Budget 2017 set to be costlier, cheaper

Here's list of products proposed in Budget 2017 set to be costlier, cheaper

Wed, Feb 01, 2017

Find out which products will be costlier and cheaper as the Government of India has announced its Union Budget 2017-18 and has hiked customs and excise duties on some products.

Here are 20 key Budget 2017 terms that you need to know

Here are 20 key Budget 2017 terms that you need to know

Wed, Feb 01, 2017

Here are 20 key Budget 2017 Glossary terms that you need to know before you watch FM Arun Jaitley's Union Budget speech on Wednesday.

GST won't lead to job losses at tax department, assures FM Arun Jaitley

GST won't lead to job losses at tax department, assures FM Arun Jaitley

Fri, Jan 27, 2017

Ahead of the rollout of GST, Finance Minister Arun Jaitley on Friday sought to address concerns of job loss from reduced work of tax officials, saying they should have no insecurity as enough work and opportunities will be available to them in the new indirect tax regime.

Budget 2017: Govt may cut excise duty on petrol

Budget 2017: Govt may cut excise duty on petrol

Fri, Jan 27, 2017

Excise duty on petrol and diesel might be reduced in the upcoming budget, sources told Zee Business. Alok Priyadarshi reports that there is a possibility of excise duty reduction by Rs 2 per litre on petrol and Rs 3 per litre on diesel.

GST's toll-free helpline number receives 80% calls from SMEs, startups

GST's toll-free helpline number receives 80% calls from SMEs, startups

Tue, Jan 24, 2017

India's SMEs and startup companies are anxious about the government's implementation of GST and its impact on the sectors.

Budget 2017: ICRA expects government to keep fiscal deficit target of lower than 3.5% of GDP for FY18

Budget 2017: ICRA expects government to keep fiscal deficit target of lower than 3.5% of GDP for FY18

Tue, Jan 24, 2017

As the Government of India prepares to announce its Union Budget 2017-18 in February, its unlikely to budget a fiscal deficit target higher than 3.5% of gross domestic product (GDP) for the fiscal year 2017-18 (FY18), said ICRA in its latest report on Budget 2017 expectations.

Petrol prices cross 2013 peaks, but political opposition missing

Petrol prices cross 2013 peaks, but political opposition missing

Sat, Jan 21, 2017

In February 2013, opposition parties, notably the Bharatiya Janata Party (BJP), took to the streets in protest as the price of petrol in the national capital spiralled to Rs 69.06. "This is a betrayal (of) the people of the country.

Hope to resolve issues for GST rollout from April 1: Jaitley

Hope to resolve issues for GST rollout from April 1: Jaitley

Wed, Jan 11, 2017

With states and the Centre still locked in stalemate over control of tax payers, Finance Minister Arun Jaitley today said the issue will be resolved in next few weeks for rollout of the GST regime from April 1.

Direct, indirect tax collection rose 12%, 25%, respectively: Finance Minister Arun Jaitley claims

Direct, indirect tax collection rose 12%, 25%, respectively: Finance Minister Arun Jaitley claims

Mon, Jan 09, 2017

Jaitley also said that Centre is in talks with banks to discuss Merchant Discount Rate (MDR) issue.

PAN a must for excise, service taxpayers for GST registration

PAN a must for excise, service taxpayers for GST registration

Sun, Jan 08, 2017

The tax department has made it mandatory for central excise duty and service taxpayers to obtain a valid PAN number before they can be migrated to the new goods and services tax (GST) set-up.

GST Council agrees on 5 areas; differ over decisions taken in first meeting

GST Council agrees on 5 areas; differ over decisions taken in first meeting

Fri, Sep 30, 2016

In signs of fracture, the Centre and states on Friday disagreed on decisions reached at the first meeting of the GST Council on service tax assessment although they reached a consensus on area based exemption in the new tax regime.

Gold demand likely to fall to 750 tonnes in 2016 on high price: WGC

Gold demand likely to fall to 750 tonnes in 2016 on high price: WGC

Thu, Sep 29, 2016

India's gold demand is likely to fall to around 750-800 tonnes in 2016, as against 860 tonnes last year, mainly due to sharp rise in prices and jewellers' strike following new regulations, World Gold Council (WGC) has said.

GST: Clarification likely on Centre's power to levy excise

GST: Clarification likely on Centre's power to levy excise

Mon, Sep 19, 2016

The revenue department is likely to issue clarification on legality of levying excise duty by the Centre on various commodities till implementation of goods and services tax (GST) from April 1, 2017.

India's tax collections for the current year shoot up smartly

India's tax collections for the current year shoot up smartly

Wed, Aug 10, 2016

Direct tax collections, or corporate and income tax rose by over 24%, at Rs 1.59 lakh crore upto July 2016. "Till July, 2016, 18.82%of the Budget Estimates of direct taxes for FY 2016-17 has been achieved," the statement said.

Govt is confident to roll out GST from April 1, 2017 : Hasmukh Adhia

Govt is confident to roll out GST from April 1, 2017 : Hasmukh Adhia

Sun, Aug 07, 2016

The government is confident of rolling out the GST regime from April 1 next year but the deadline may be difficult to meet if resolution of issues like the rate of tax and items to be exempted take longer, Revenue Secretary Hasmukh Adhia said on Sunday.

GST Bill: All you need to know

GST Bill: All you need to know

Wed, Aug 03, 2016

The Ministry of Finance on Wednesday released a document, which provides information that you need to know about the Goods and Services Tax (GST) Bill. The GST Bill is currently underway for discussion in the Rajya Sabha (Upper House of Indian Parliament) as of 03:30 pm IST.

Govt may not cut excise duty on petrol, diesel in near-term

Govt may not cut excise duty on petrol, diesel in near-term

Sun, Jul 03, 2016

Government may not cut excise duty on petrol and diesel in the near-term if it accepts the suggestions made in the approach paper submitted by Chief Economic Adviser for maintaining status quo when oil prices can climb by another $15 a barrel.

Govt extends time for jewellers to obtain excise registration by a month

Govt extends time for jewellers to obtain excise registration by a month

Sat, Jul 02, 2016

The statement said the liability for payment of central excise duty will be with effect from March 1, 2016.

Aviation Ministry presents Draft Regional Connectivity Scheme; all you need to know about it

Aviation Ministry presents Draft Regional Connectivity Scheme; all you need to know about it

Sat, Jul 02, 2016

The airline operators will exempt the RCS flights from landing charges, parking charges, and terminal navigation landing charges.

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