Page 10 - Latest Updates on Excise Duty
PSUs face further investment apathy; privatisation may struggle: Analysts
The bulk of the earnings reduction over the past two months for the Nifty-50 index, according to KIE, has come from the government's decision to levy new taxes
 "PSUs face further investment apathy; privatisation may struggle: Analysts")
Our expansion plans will take a hit due to ATF duty, say airlines
Say the move will make international flights uncompetitive, seek rollback
 "Our expansion plans will take a hit due to ATF duty, say airlines")
Fuel exports rise in FY23; refiners stay healthy despite addl excise
Hike in excise duty on fuel was imposed after private refiners made a killing exporting the dirt cheap Russian fuel available to them at elevated prices
 "Fuel exports rise in FY23; refiners stay healthy despite addl excise")
Windfall tax to recoup most of Rs 1 trillion revenue lost in excise cuts
The windfall tax on oil produced within India and fuel exported overseas will make up for more than three-fourths of the revenue lost when it cut excise duty on fuel, industry sources said
 "Windfall tax to recoup most of Rs 1 trillion revenue lost in excise cuts")
Petrol export duty: Will RIL shares fall more after Friday's 9% slide?
The bias for Reliance remains positive, with strong support seen at the 50-WMA, below which the next significant support is at Rs 2,350.
 "Petrol export duty: Will RIL shares fall more after Friday's 9% slide?")
How Delhi's new excise policy sinks spirits of private liquor retailers
The new excise policy of the state government had allowed the entry of private liquor retailers for the first time
 "How Delhi's new excise policy sinks spirits of private liquor retailers")
States gained Rs 49k crore when fuel prices rose, have room to cut VAT: SBI
States gained Rs 49,229 crore from VAT revenue on fuel when oil prices were increasing and will forego Rs 15,021 crore now that excise duty on fuel has been cut, SBI Research said in a report
 "States gained Rs 49k crore when fuel prices rose, have room to cut VAT: SBI")
Kerala, Maharashtra, Raj reduce VAT on fuel after Centre cuts excise duty
Maharashtra, Rajasthan, Kerala have decreased VAT on petrol and diesel after Finance Minister Nirmala Sitharaman's call to provide further relief to consumers following a cut in excise duty by Centre
Italy lowers fuel taxes to help tackle surging prices due to Ukraine war
A statement from the office of PM Mario Draghi read, excise taxes on gasoline, diesel fuel, liquified petroleum gas, and all forms of natural gas will be lowered starting Tuesday, until atleast July 8
 "Italy lowers fuel taxes to help tackle surging prices due to Ukraine war")
Karnataka High Court backs simultaneous levy of excise duty, GST on tobacco
A two-judge bench, comprising justice Alok Aradhe and justice S Vishwajith Shetty, basically upheld the earlier order by a single bench of the court in this regard
 "Karnataka High Court backs simultaneous levy of excise duty, GST on tobacco")
PM talked about VAT on fuel by states, didn't mention govt excise: Gehlot
Gehlot claimed Centre has earned about Rs 26 trn from excise duty in 8 years which, he said, is the highest amount earned by any dispensation in history of the country by imposing tax on petrol-diesel
 "PM talked about VAT on fuel by states, didn't mention govt excise: Gehlot")
Reduce VAT on fuel to control prices in national interest: Modi to states
He said the Centre had urged states to reduce taxes and transfer the benefit to the citizens
 "Reduce VAT on fuel to control prices in national interest: Modi to states")
Delhi excise dept allows pvt shops to offer up to 25% discount on liquor
The Delhi government's excise department has allowed private shops to offer up to 25 per cent discount on the maximum retail price (MRP) of liquor.
 "Delhi excise dept allows pvt shops to offer up to 25% discount on liquor")
BJP holds 'referendum' in Delhi against AAP govt's new excise policy
The party collected public feedback by placing specially crafted boxes at 1,120 places across 280 civic wards, said Delhi BJP media head Navin Kumar
 "BJP holds 'referendum' in Delhi against AAP govt's new excise policy")
Delhi govt extends liquor licenses under new policy for two months
In two separate orders, the department stated that the licensees under different categories can pay a pro rata fee for the extended period
 "Delhi govt extends liquor licenses under new policy for two months")
Higher nominal GDP may give Centre a leeway to cut duty on petrol, diesel
Former RBI governor C Rangarajan believes it would be 13 per cent, though his projection came before the war
 "Higher nominal GDP may give Centre a leeway to cut duty on petrol, diesel")
Revenue Secretary Tarun Bajaj on revenue estimates, capital gains etc
Business Standard's Arup Roychoudhury and Asit Ranjan Mishra spoke to Revenue Secretary Tarun Bajaj to know about revenue estimates and recent taxes levied on cryptocurrencies. Let's listen in
 "Revenue Secretary Tarun Bajaj on revenue estimates, capital gains etc")
Oil cos likely to absorb Rs 2 per litre excise duty on unblended petrol
Since there is inconsistency in ethanol blending levels across fuel depots, pricing petrol for consumers with the Rs 2 variation on some days is tricky
IndiGo terms Budget 2022 as growth-oriented, expects duty cut on jet fuel
Budget carrier IndiGo termed the Union Budget 2022-23 as "growth-oriented" while expecting a cut in the excise duty on jet fuel.
 "IndiGo terms Budget 2022 as growth-oriented, expects duty cut on jet fuel")
Excise Policy 2021 to continue beyond March 31, Delhi govt tells HC
The Delhi government informed the Delhi High Court that its Excise Policy of 2021 will continue beyond March 2022 and there will not be any 'new change' in it for the next financial year
 "Excise Policy 2021 to continue beyond March 31, Delhi govt tells HC")