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Excise Duty

Indirect tax mop-up in FY'19 may fall short by Rs 90,000 cr: Report

Indirect tax mop-up in FY'19 may fall short by Rs 90,000 cr: Report

Fri, Nov 23, 2018

Total GST collections come at Rs 6.78 lakh crore as compared with the 2018-19 Budget Estimate of Rs 7.44 lakh crore, including SGST and IGST. "If we exclude SGST and proceeds of IGST contributed to states, the GST collection of the Centre comes to Rs 3.46 lakh crore (47 per cent of BE)," the report said.

Happy with Rs 2.50 cut in petrol, diesel prices? Guess what! Fuel rates can be slashed by another Rs 4.60, Rs 3.30; Here's how

Happy with Rs 2.50 cut in petrol, diesel prices? Guess what! Fuel rates can be slashed by another Rs 4.60, Rs 3.30; Here's how

Thu, Oct 04, 2018

Today Finance Minister Arun Jaitley announced a cut in excise duty by Rs 1.50 while OMCs were expected to absorb another Re 1. Therefore, a total of Rs 2.50 will be cut in both petrol and diesel prices.

Second excise duty cut under Modi reign; consumers rejoice as petrol, diesel prices cut, but this is how much govt will lose

Second excise duty cut under Modi reign; consumers rejoice as petrol, diesel prices cut, but this is how much govt will lose

Thu, Oct 04, 2018

Modi government announced a cut in excise duty by Rs 1.50 and OMCs will absorb another Re 1, therefore, a total of Rs 2.50 will be cut in both petrol and duty prices

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VAT cut impact; Mumbai's petrol prices down by Rs 2 per litre and diesel by Rs 1 per litre

VAT cut impact; Mumbai's petrol prices down by Rs 2 per litre and diesel by Rs 1 per litre

Wed, Oct 11, 2017

On October 10, the Maharashtra government trim down Value Added Tax (VAT) on petrol and diesel prices by Rs 2 per litre and Rs 1 per litre to support government's plan in boosting demand for fuel and cushion the negative imapct of International crude price rises.

Cut in excise duty will have no impact on refiners’ profitability

Cut in excise duty will have no impact on refiners’ profitability

Fri, Oct 06, 2017

Since the time excise duty has been reduced, petrol and diesel prices have come down by more than Rs 2 per litre. Moody's believes this decline will boost demand for fuel in India.

Excise duty on petrol, diesel cut by Rs 2 per litre; revenue loss of Rs 13,000 crore in FY18

Excise duty on petrol, diesel cut by Rs 2 per litre; revenue loss of Rs 13,000 crore in FY18

Tue, Oct 03, 2017

Petrol and diesel prices have reached to a three year high since the time they have undergone daily revision - which has impacted India's Wholesale Price Index (WPI) inflation too.

Revenue Dept removes additional excise duty on cigarette, tobacco

Revenue Dept removes additional excise duty on cigarette, tobacco

Mon, Jul 03, 2017

Under the GST, a cess is levied on demerit and luxury goods over and above the peak GST rate of 28 per cent.

Economy class air travel set to become cheaper from July 1; Govt fixes tax rate at 5%

Economy class air travel set to become cheaper from July 1; Govt fixes tax rate at 5%

Sat, May 20, 2017

The economy class air travel in airlines is set to become cheaper while the business class will become dearer with the implementation of GST from July 1 as the government has lowered the tax rate on air fares of economy class while it has increased the tax rate on air fares of business class.

GST Chaupal: Traders in Mumbai's Kumbharwada get their queries answered

GST Chaupal: Traders in Mumbai's Kumbharwada get their queries answered

Wed, May 17, 2017

Zee Business recently hold a panel discussion with traders in Mumbai's Kumbharwada area in order to learn about what they think about the GST tax, here are the excerpts from that panel discussion.

GST cloud hangs over excise mop-up as dealers hold up tight

GST cloud hangs over excise mop-up as dealers hold up tight

Sun, May 14, 2017

The collections of excise duty may take hit as dealers are refraining from purchasing goods from manufacturers as they are not sure about tax credits and rates under GST, which is slated for July 1 launch.

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.

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