Page 13 - Latest Updates on Excise Duty
Petrol, diesel get costlier as Delhi govt hikes VAT amid Covid-19 lockdown
Following the revision, the price of petrol in Delhi increased by Rs 1.67 to Rs 71.26 a litre and diesel by Rs 7.10 to Rs 69.29.
 "Petrol, diesel get costlier as Delhi govt hikes VAT amid Covid-19 lockdown")
Andhra hikes liquor prices twice in the trot as queues expand at stores
25% hike yesterday, another 50% today, both in the form of additional retail excise tax
 "Andhra hikes liquor prices twice in the trot as queues expand at stores")
Minting money: States earned Rs 1.75 trillion from sale of alcohol in FY20
It was their third-largest source of revenue after GST and sales tax or value-added tax
 "Minting money: States earned Rs 1.75 trillion from sale of alcohol in FY20")
With liquor shops open, UP expects to recoup part of average excise mop-up
The UP government expects to recoup at least part of its average excise mop-up of nearly Rs 100 crore daily till the time the restrictions are removed
 "With liquor shops open, UP expects to recoup part of average excise mop-up")
DGS has to take a call on waiving detention charges
The CBIC has also instructed field formations to make special efforts to dispose of all pending refund and drawback claims through a "special refund and drawback disposal drive"
 "DGS has to take a call on waiving detention charges")
Provide list of retail vend of liquor in public sector:Delhi to Excise dept
Delhi government has asked to conform to the criteria prescribed by the Union Ministry of Home Affairs
 "Provide list of retail vend of liquor in public sector:Delhi to Excise dept")
Govt plans another excise hike on petroleum products to offset revenue loss
No immediate hike, marginal increase likely to be implemented only after lockdown is lifted
 "Govt plans another excise hike on petroleum products to offset revenue loss")
Another excise hike for petroleum products on cards to offset revenue loss
No immediate hike, marginal increase likely to be implemented only after lockdown is lifted
 "Another excise hike for petroleum products on cards to offset revenue loss")
Govt likely to face shortfall of Rs 10 trn due to coronavirus: Subhash Garg
Elaborating on the fiscal situation, the former finance secretary said that indirect taxes, GST, excise duty on petroleum products and customs will under-perform
 "Govt likely to face shortfall of Rs 10 trn due to coronavirus: Subhash Garg")
Closures hit alcohol manufacturers; govt faces loss of Rs 700 cr a day
Excise duty on liquor is an important revenue source for states, which are not in a strong position financially at present
 "Closures hit alcohol manufacturers; govt faces loss of Rs 700 cr a day")
Petrol, diesel get costlier as states increase VAT amid coronavirus crisis
Both Kolkata and Mumbai saw an increase of Rs 1.01 each on petrol to Re 1 each on diesel. However, prices in Delhi remained unchanged
 "Petrol, diesel get costlier as states increase VAT amid coronavirus crisis")
Fuel prices see minor changes, check petrol and diesel rates today
The prices of petrol and diesel can increase further as Parliament passed Finance Bill on Monday
 "Fuel prices see minor changes, check petrol and diesel rates today")
Centre to hike excise duty on petrol and diesel by Rs 8 per litre each
The digital tax at the rate of 2% may particularly come as a setback to Chinese e-commerce players like AliExpress, Shein, and Club Factory selling in India
 "Centre to hike excise duty on petrol and diesel by Rs 8 per litre each")
Govt amends law to get power to hike tax on petrol, diesel by Rs 8 per ltr
The amendment along with the Finance Bill was passed without a debate in the Lok Sabha
Sharper cuts in fuel prices if oil cos forego supernormal profits: Report
The govt raised excise duty on both petrol and diesel by Rs 3 per litre
 "Sharper cuts in fuel prices if oil cos forego supernormal profits: Report")
Petrol, diesel prices cut for a third straight day as crude oil softens 5%
Delhi has the lowest fuel prices among metros because of lower state taxes
 "Petrol, diesel prices cut for a third straight day as crude oil softens 5%")
Instead of heeding my advice, our 'genius' hiked excise duty on fuel: Rahul
Congress on Saturday had hit out at the government over the hike in excise duty on petrol and diesel
 "Instead of heeding my advice, our 'genius' hiked excise duty on fuel: Rahul")
Excise duty on petrol, diesel up by Rs 3 per litre as oil prices decline
Special excise duty on petrol was hiked by Rs 2 to Rs 8 per litre and to Rs 4 in case of diesel
Oil price slump: Centre may not hike excise duty for petro products
For 2019-20, the Centre had estimated average crude price of $55 a barrel, and for 2020-21, it has been assumed at $50 a barrel.
 "Oil price slump: Centre may not hike excise duty for petro products")
Coronavirus outbreak may delay roll-out of Vivad se Vishwas scheme
Disputes relating to wealth, securities transactions, commodities transaction tax, and the equalisation levy are not covered under the scheme.
 "Coronavirus outbreak may delay roll-out of Vivad se Vishwas scheme")